Fulton Breakefield Broenniman LLC lifted its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 110,167 shares of the financial services provider’s stock after acquiring an additional 938 shares during the quarter. PNC Financial Services Group makes up 2.1% of Fulton Breakefield Broenniman LLC’s investment portfolio, making the stock its 12th largest position. Fulton Breakefield Broenniman LLC’s holdings in PNC Financial Services Group were worth $17,586,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. West Oak Capital LLC raised its position in PNC Financial Services Group by 99.0% in the 4th quarter. West Oak Capital LLC now owns 201 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. Hoey Investments Inc. purchased a new position in shares of PNC Financial Services Group in the fourth quarter worth about $32,000. Liberty Wealth Management LLC increased its holdings in shares of PNC Financial Services Group by 112.8% in the third quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock worth $33,000 after buying an additional 123 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of PNC Financial Services Group in the 3rd quarter valued at about $37,000. Finally, Old North State Trust LLC lifted its stake in shares of PNC Financial Services Group by 108.8% in the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 160 shares during the last quarter. 79.39% of the stock is owned by institutional investors.
In other news, CAO Gregory B. Jordan sold 9,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $152.50, for a total value of $1,448,750.00. Following the completion of the sale, the chief accounting officer now directly owns 48,725 shares of the company’s stock, valued at approximately $7,430,562.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 129,400 shares of PNC Financial Services Group stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $152.10, for a total transaction of $19,681,740.00. Following the sale, the chief executive officer now directly owns 370,790 shares in the company, valued at approximately $56,397,159. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,623 shares of company stock worth $28,044,817. 0.37% of the stock is currently owned by company insiders.
Several equities analysts recently issued reports on PNC shares. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Wednesday, January 8th. ValuEngine downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. UBS Group increased their price objective on PNC Financial Services Group from $142.00 to $146.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Morgan Stanley raised their target price on shares of PNC Financial Services Group from $160.00 to $162.00 and gave the stock an “equal weight” rating in a report on Monday, December 23rd. Finally, Bank of America raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $144.00 to $178.00 in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $153.91.
PNC traded up $0.44 during midday trading on Tuesday, reaching $159.88. 3,333,846 shares of the company’s stock traded hands, compared to its average volume of 2,000,604. PNC Financial Services Group Inc has a 52 week low of $117.17 and a 52 week high of $161.79. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a fifty day moving average of $157.35 and a two-hundred day moving average of $144.00. The stock has a market capitalization of $70.60 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.62 and a beta of 1.15.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.14. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $2.82 EPS. Sell-side analysts forecast that PNC Financial Services Group Inc will post 11.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Friday, January 17th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.95%.
PNC Financial Services Group Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, 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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