Resources Management Corp CT ADV bought a new stake in PNC Financial Services Group Inc (NYSE:PNC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,264 shares of the financial services provider’s stock, valued at approximately $5,223,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in PNC. Westside Investment Management Inc. bought a new stake in PNC Financial Services Group during the second quarter worth approximately $29,000. Liberty Wealth Management LLC lifted its holdings in PNC Financial Services Group by 112.8% in the 3rd quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 123 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in PNC Financial Services Group in the 3rd quarter valued at about $37,000. Redhawk Wealth Advisors Inc. bought a new position in shares of PNC Financial Services Group in the second quarter valued at $40,000. Finally, Old North State Trust LLC boosted its stake in shares of PNC Financial Services Group by 108.8% during the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.
NYSE PNC traded up $1.61 during trading on Wednesday, reaching $151.35. 1,680,543 shares of the company’s stock were exchanged, compared to its average volume of 1,977,763. The company has a current ratio of 0.88, a quick 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 $154.75. The company’s fifty day simple moving average is $149.29 and its 200-day simple moving average is $138.64. The firm has a market capitalization of $68.22 billion, a PE ratio of 14.13, a P/E/G ratio of 1.85 and a beta of 1.14.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Thursday, October 17th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio is currently 42.95%.
In other PNC Financial Services Group news, CAO Gregory B. Jordan sold 9,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 48,725 shares in the company, valued at approximately $7,430,562.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Karen L. Larrimer sold 2,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $152.29, for a total transaction of $304,580.00. Following the completion of the sale, the executive vice president now owns 21,172 shares of the company’s stock, valued at approximately $3,224,283.88. The disclosure for this sale can be found here. Insiders have sold 171,755 shares of company stock worth $25,765,522 over the last ninety days. 0.37% of the stock is currently owned by insiders.
A number of equities analysts recently weighed in on PNC shares. UBS Group lifted their price target on PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. ValuEngine downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price target on the stock. in a report on Tuesday, October 1st. Barclays set a $158.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of PNC Financial Services Group in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $144.17.
About PNC Financial Services Group
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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