Lakeview Capital Partners LLC boosted its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 11.7% during the first quarter, HoldingsChannel reports. The firm owned 4,530 shares of the financial services provider’s stock after acquiring an additional 475 shares during the period. Lakeview Capital Partners LLC’s holdings in PNC Financial Services Group were worth $556,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of PNC Financial Services Group in the first quarter worth about $25,000. Field & Main Bank bought a new position in shares of PNC Financial Services Group in the first quarter worth about $25,000. Penserra Capital Management LLC bought a new position in shares of PNC Financial Services Group in the first quarter worth about $25,000. Executive Wealth Management LLC bought a new position in shares of PNC Financial Services Group in the fourth quarter worth about $29,000. Finally, Transamerica Financial Advisors Inc. bought a new position in shares of PNC Financial Services Group in the fourth quarter worth about $36,000. 80.75% of the stock is currently owned by institutional investors.
In related news, insider Joseph E. Rockey sold 6,000 shares of PNC Financial Services Group stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the sale, the insider now owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.
PNC has been the topic of a number of research analyst reports. Deutsche Bank cut shares of PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $123.89 price target on the stock. in a report on Friday, January 25th. Macquarie upgraded shares of PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a report on Wednesday, March 6th. Zacks Investment Research cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Monday, March 11th. UBS Group set a $133.00 target price on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Finally, Barclays increased their target price on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $143.63.
PNC opened at $130.89 on Friday. PNC Financial Services Group Inc has a 12-month low of $108.45 and a 12-month high of $149.62. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.23. The company has a market cap of $59.63 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.
PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.61. The company had revenue of $4.29 billion during the quarter, compared to analyst estimates of $4.24 billion. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. During the same period last year, the firm posted $2.43 EPS. Analysts expect that PNC Financial Services Group Inc will post 11.34 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Tuesday, April 16th were paid a $0.95 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $3.80 dividend on an annualized basis and a yield of 2.90%. PNC Financial Services Group’s dividend payout ratio is currently 35.48%.
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PNC Financial Services Group Company 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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