The Jones Financial Companies Lllp Has $11.22 Million Position in PNC Financial Services Group, Inc. (The) (PNC)

The Jones Financial Companies Lllp Has $11.22 Million Position in PNC Financial Services Group, Inc. (The) (PNC)

Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its position in PNC Financial Services Group, Inc. (The) by 2.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,914 shares of the financial services provider’s stock valued at $1,978,000 after buying an additional 404 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in PNC Financial Services Group, Inc. (The) by 0.4% in the fourth quarter. Westwood Holdings Group Inc. now owns 87,652 shares of the financial services provider’s stock valued at $10,252,000 after buying an additional 337 shares during the last quarter. Appaloosa LP boosted its position in PNC Financial Services Group, Inc. (The) by 218.6% in the fourth quarter. Appaloosa LP now owns 1,950,973 shares of the financial services provider’s stock valued at $228,186,000 after buying an additional 1,338,528 shares during the last quarter. Norges Bank bought a new position in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at $479,996,000. Finally, Dodge & Cox bought a new position in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at $2,433,000. 81.64% of the stock is owned by hedge funds and other institutional investors.

Jones Financial Companies Lllp reduced its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 7.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 93,274 shares of the financial services provider’s stock after selling 7,443 shares during the period. Jones Financial Companies Lllp’s holdings in PNC Financial Services Group, Inc. (The) were worth $11,215,000 as of its most recent SEC filing.

Shares of PNC Financial Services Group, Inc. (PNC) traded up 0.21% on Wednesday, hitting $130.68. 2,056,008 shares of the stock were exchanged. The company’s 50 day moving average is $125.42 and its 200-day moving average is $122.60. PNC Financial Services Group, Inc. has a 52-week low of $82.17 and a 52-week high of $131.83. The stock has a market cap of $62.73 billion, a PE ratio of 16.63 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 EPS. Analysts predict that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $2.70 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Monday, July 17th will be paid a $0.75 dividend. This is a boost from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $3.00 annualized dividend and a dividend yield of 2.30%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is presently 38.12%.

A number of equities analysts have commented on PNC shares. Instinet dropped their price objective on shares of PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, June 30th. Zacks Investment Research raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research note on Tuesday, May 30th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, April 17th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, BMO Capital Markets restated a “buy” rating and issued a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $122.75.

In other news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total value of $3,048,835.95. Following the completion of the transaction, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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