LS Investment Advisors LLC lifted its position in PNC Financial Services Group Inc (NYSE:PNC) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,862 shares of the financial services provider’s stock after acquiring an additional 83 shares during the period. LS Investment Advisors LLC’s holdings in PNC Financial Services Group were worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new stake in shares of PNC Financial Services Group during the 1st quarter valued at about $25,000. IMA Wealth Inc. purchased a new position in PNC Financial Services Group in the 1st quarter valued at about $25,000. Westside Investment Management Inc. purchased a new position in PNC Financial Services Group in the 2nd quarter valued at about $29,000. Meridian Wealth Management LLC purchased a new position in PNC Financial Services Group in the 1st quarter valued at about $33,000. Finally, Private Ocean LLC lifted its stake in PNC Financial Services Group by 63.5% in the 1st quarter. Private Ocean LLC now owns 322 shares of the financial services provider’s stock valued at $39,000 after buying an additional 125 shares in the last quarter. 81.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley set a $141.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $143.41.
Shares of NYSE:PNC traded down $0.33 during trading on Tuesday, hitting $123.77. The company’s stock had a trading volume of 61,321 shares, compared to its average volume of 2,150,061. The business has a 50 day moving average price of $135.15 and a two-hundred day moving average price of $131.34. The company has a market capitalization of $54.81 billion, a PE ratio of 11.55, a P/E/G ratio of 1.60 and a beta of 1.07. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 0.90. PNC Financial Services Group Inc has a fifty-two week low of $108.45 and a fifty-two week high of $147.00.
PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.05. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.72 earnings per share. As a group, equities analysts expect that PNC Financial Services Group Inc will post 11.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 19th were paid a $1.15 dividend. This is an increase from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, July 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.72%. PNC Financial Services Group’s payout ratio is 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.
Further Reading: Net Income
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