Factory Mutual Insurance Co. lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,900 shares of the financial services provider’s stock after selling 25,169 shares during the period. Factory Mutual Insurance Co.’s holdings in The PNC Financial Services Group were worth $23,140,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of PNC. Retirement Planning Co of New England Inc. bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $30,000. Kozak & Associates Inc. bought a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $34,000. Covestor Ltd acquired a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $40,000. Equitec Proprietary Markets LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $47,000. Finally, West Bancorporation Inc. acquired a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 83.54% of the company’s stock.
Shares of NYSE:PNC traded up $3.24 during trading on Tuesday, reaching $158.51. The stock had a trading volume of 30,848 shares, compared to its average volume of 2,473,175. The stock has a market capitalization of $65.56 billion, a PE ratio of 13.38, a P/E/G ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.74. The PNC Financial Services Group, Inc. has a 52 week low of $153.13 and a 52 week high of $228.14. The business’s 50-day moving average price is $179.07 and its 200 day moving average price is $195.71.
The business also recently declared a quarterly dividend, which was paid on Thursday, May 5th. Investors of record on Wednesday, April 13th were given a dividend of $1.50 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, April 12th. This represents a $6.00 annualized dividend and a yield of 3.79%. The PNC Financial Services Group’s dividend payout ratio is 50.76%.
In other news, EVP Michael P. Lyons sold 5,500 shares of the business’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $182.59, for a total transaction of $1,004,245.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Guild Deborah sold 1,257 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $170.56, for a total value of $214,393.92. Following the completion of the transaction, the executive vice president now owns 23,360 shares in the company, valued at approximately $3,984,281.60. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.
PNC has been the subject of a number of analyst reports. Argus decreased their price objective on shares of The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Morgan Stanley decreased their price target on shares of The PNC Financial Services Group from $209.00 to $196.00 and set an “underweight” rating for the company in a report on Monday, March 28th. StockNews.com initiated coverage on The PNC Financial Services Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group increased their target price on The PNC Financial Services Group from $203.00 to $207.00 and gave the company a “neutral” rating in a research note on Wednesday, January 19th. Finally, JPMorgan Chase & Co. raised their target price on The PNC Financial Services Group from $229.50 to $232.50 in a report on Thursday, February 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $219.53.
The PNC Financial Services Group Company Profile (Get 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, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.
- Get a free copy of the StockNews.com research report on The PNC Financial Services Group (PNC)
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