CAPROCK Group Inc. buys 102 shares of The PNC Financial Services Group, Inc. (NYSE: PNC)


CAPROCK Group Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE: PNC – Get Rating) by 1.6% during Q1, according to its latest SEC filing. The institutional investor owned 6,313 shares of the financial services provider after acquiring an additional 102 shares during the period. CAPROCK Group Inc.’s holdings in The PNC Financial Services Group were worth $1,164,000 when it was last filed with the SEC.

A number of other hedge funds and other institutional investors have also recently increased or reduced their stakes in PNC. Citizens National Bank Trust Department purchased a new stake in shares of The PNC Financial Services Group during Q4 for a value of approximately $28,000. Retirement Planning Co of New England Inc. purchased a new stake in shares of The PNC Financial Services Group during Q4 for a value of approximately $30,000. Guardian Wealth Management Inc. purchased a new stake in shares of The PNC Financial Services Group during Q4 for a value of approximately $32,000. Kozak & Associates Inc. purchased a new stake in shares of The PNC Financial Services Group during Q3 for a value of approximately $34,000. Finally, Covestor Ltd purchased a new stake in shares of The PNC Financial Services Group during Q4 for a value of approximately $40,000. Hedge funds and other institutional investors hold 83.54% of the company’s shares.

NYSE PNC shares opened at $156.61 on Thursday. The company has a debt ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.74. The stock’s fifty-day moving average price is $166.11 and its two-hundred-day moving average price is $188.04. The PNC Financial Services Group, Inc. has a one-year low of $149.51 and a one-year high of $228.14. The company has a market capitalization of $64.77 billion, a price/earnings ratio of 13.25, a P/E/G ratio of 2.13 and a beta of 1.24.

PNC Financial Services Group (NYSE:PNC – Get Rating) last released quarterly earnings data on Thursday, April 14. The financial services provider reported EPS of $3.29 for the quarter, beating consensus analyst estimates of $2.78 by $0.51. The company posted revenue of $4.69 billion for the quarter, versus analyst estimates of $4.72 billion. The PNC Financial Services group achieved a return on equity of 12.43% and a net margin of 26.14%. The company’s revenue for the quarter increased 11.2% year over year. During the same period a year earlier, the company posted EPS of $4.10. On average, stock analysts expect The PNC Financial Services Group, Inc. to post earnings per share of 14.19 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 5. Shareholders of record on Wednesday, April 13 received a dividend of $1.50 per share. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $1.25. This represents an annualized dividend of $6.00 and a dividend yield of 3.83%. The ex-dividend date was Tuesday, April 12. PNC Financial Services Group’s dividend payout ratio is 50.76%.

A number of brokerages have recently released reports on PNC. Wolfe Research lowered its price target on PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating on the stock in a Thursday, May 26 research note. Raymond James lowered his price target on PNC Financial Services Group from $215.00 to $210.00 and set an “outperform” rating on the stock in a Monday, April 18 research note. Argus lowered its price target on PNC Financial Services Group from $245.00 to $220.00 in a Monday, April 18 research note. Morgan Stanley lowered its price target on PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating on the stock in a Monday, March 28 research note. Finally, Piper Sandler lowered her price target on PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating on the stock in a research note on Friday, April 1. One analyst has assigned the stock a sell rating, nine have assigned a hold rating and six have assigned the stock a buy rating. According to data from MarketBeat, the PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $215.29.

Separately, Guild Executive Vice President Deborah sold 1,257 shares of the company in a trade dated Tuesday, May 3. The stock was sold at an average price of $170.56, for a total value of $214,393.92. Following the sale, the executive vice president now directly owns 23,360 shares of the company, valued at $3,984,281.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Additionally, director Robert A. Niblock acquired 2,000 shares of PNC Financial Services Group in a transaction that took place on Friday, May 6. The shares were acquired at an average cost of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the purchase, the director now directly owns 6,063 shares of the company, valued at $1,012,945.41. Disclosure of this purchase can be found here. Company insiders own 0.34% of the company’s shares.

PNC Financial Services Group Company Profile (Get a rating)

The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. The Company’s Retail Banking segment offers brokerage, insurance, investment and cash management services; checking, savings and money market accounts; certificates of deposit; and lending products, which include residential mortgages, home equity loans and lines of credit, auto loans, education loans and personal and small business loans, as well as consumer credit cards and to small businesses through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Institutional ownership by quarter for PNC Financial Services Group (NYSE:PNC)



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Stephen V. Lee