Brandywine Global Investment Management LLC boosted its position in PNC Financial Services Group Inc (NYSE:PNC) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,434 shares of the financial services provider’s stock after buying an additional 18,065 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.12% of PNC Financial Services Group worth $64,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. IMS Capital Management purchased a new stake in PNC Financial Services Group in the third quarter worth approximately $28,000. Transamerica Financial Advisors Inc. purchased a new stake in PNC Financial Services Group in the fourth quarter worth approximately $36,000. Athena Capital Advisors LLC purchased a new stake in PNC Financial Services Group in the fourth quarter worth approximately $37,000. Ipswich Investment Management Co. Inc. purchased a new stake in PNC Financial Services Group in the fourth quarter worth approximately $43,000. Finally, San Francisco Sentry Investment Group CA boosted its stake in PNC Financial Services Group by 35.9% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 394 shares of the financial services provider’s stock worth $46,000 after buying an additional 104 shares in the last quarter. 79.90% of the stock is owned by institutional investors and hedge funds.
Shares of PNC stock opened at $129.86 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 1.10. PNC Financial Services Group Inc has a fifty-two week low of $108.45 and a fifty-two week high of $160.96. The company has a market capitalization of $58.91 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.51 and a beta of 1.05.
PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $2.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.79 by ($0.04). PNC Financial Services Group had a net margin of 26.51% and a return on equity of 11.23%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the firm posted $2.29 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts predict that PNC Financial Services Group Inc will post 11.32 EPS for the current year.
PNC has been the subject of several research reports. Royal Bank of Canada cut their target price on PNC Financial Services Group to $150.00 and set an “average” rating for the company in a research note on Thursday, January 17th. Bank of America lowered PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Thursday, January 10th. Goldman Sachs Group lowered PNC Financial Services Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $154.00 to $144.00 in a research note on Monday, January 7th. Morgan Stanley cut their target price on PNC Financial Services Group from $147.00 to $135.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 8th. Finally, Barclays lowered their price objective on PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $145.45.
In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 12,361 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $122.50, for a total value of $1,514,222.50. Following the completion of the sale, the executive vice president now owns 118,671 shares in the company, valued at $14,537,197.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Pfinsgraff bought 500 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were acquired at an average price of $125.69 per share, with a total value of $62,845.00. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.
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About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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