PNC Financial Services Group, Inc. (The) (PNC) Position Maintained by Welch & Forbes LLC

PNC Financial Services Group, Inc. (The) (PNC) Position Maintained by Welch & Forbes LLC

Welch & Forbes LLC continued to hold its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the third quarter, Holdings Channel reports. The fund owned 9,047 shares of the company’s stock at the end of the third quarter. Welch & Forbes LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $815,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 254.3% in the second quarter. BNP Paribas Arbitrage SA now owns 585,787 shares of the company’s stock worth $47,677,000 after buying an additional 420,457 shares during the period. LS Investment Advisors LLC boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 5.4% in the second quarter. LS Investment Advisors LLC now owns 17,470 shares of the company’s stock worth $1,422,000 after buying an additional 893 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 28.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 21,790 shares of the company’s stock worth $1,774,000 after buying an additional 4,842 shares during the period. American Century Companies Inc. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 15.6% in the second quarter. American Century Companies Inc. now owns 6,655,625 shares of the company’s stock worth $541,701,000 after buying an additional 897,284 shares during the period. Finally, Crossvault Capital Management LLC boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 7.1% in the second quarter. Crossvault Capital Management LLC now owns 48,437 shares of the company’s stock worth $3,942,000 after buying an additional 3,225 shares during the period. 82.12% of the stock is owned by hedge funds and other institutional investors.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 121.64 on Friday. The firm has a 50-day moving average price of $117.43 and a 200 day moving average price of $98.52. The stock has a market capitalization of $59.00 billion, a price-to-earnings ratio of 16.66 and a beta of 0.89. PNC Financial Services Group, Inc. has a 52-week low of $77.40 and a 52-week high of $121.98.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, January 13th. The company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.12. PNC Financial Services Group, Inc. (The) had a net margin of 23.90% and a return on equity of 8.96%. The company had revenue of $3.83 billion for the quarter. During the same period last year, the firm earned $1.87 earnings per share. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts predict that PNC Financial Services Group, Inc. will post $7.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, February 5th. Shareholders of record on Tuesday, January 17th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, January 12th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is currently 30.10%.

PNC has been the subject of a number of research analyst reports. Vetr cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating and set a $94.63 target price for the company. in a research report on Thursday, October 6th. Raymond James Financial, Inc. raised PNC Financial Services Group, Inc. (The) from an “underperform” rating to a “market perform” rating in a research note on Thursday, October 6th. Nomura downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research note on Monday, October 10th. They noted that the move was a valuation call. Barclays PLC reaffirmed a “hold” rating and set a $97.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, October 11th. Finally, Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $100.52.

In other news, insider Michael J. Hannon sold 25,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $95.28, for a total transaction of $2,382,000.00. Following the transaction, the insider now directly owns 79,573 shares in the company, valued at approximately $7,581,715.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 179,809 shares of the business’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $107.61, for a total transaction of $19,349,246.49. Following the transaction, the chief executive officer now owns 531,755 shares in the company, valued at $57,222,155.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 205,809 shares of company stock worth $21,848,096. Company insiders own 0.57% of the company’s stock.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

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