The PNC Financial Services Group: A Shift in Sterling Capital Management LLC’s Position
Sterling Capital Management LLC, a financial services firm, has reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. This move marks a significant change in the firm’s investment strategy, as it now holds 30,354 shares of the financial services provider’s stock after selling 3,262 shares during the period. The value of Sterling Capital Management LLC’s holdings in The PNC Financial Services Group was worth $5,854,000 at the end of the most recent reporting period.
Other Institutional Investors’ Stances on PNC
- Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $25,000.
- Richardson Financial Services Inc. increased its position in The PNC Financial Services Group by 2,333.3% during the fourth quarter, now owning 146 shares of the financial services provider’s stock worth $28,000.
- Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $30,000.
- Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $32,000.
- Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000.
Insider Buying and Selling
CEO William S. Demchak sold 601 shares of the firm’s stock in a transaction on Wednesday, April 9th, at an average price of $160.00, for a total transaction of $96,160.00. Following the transaction, the chief executive officer now directly owns 563,573 shares in the company, valued at $90,171,680. This trade represents a 0.11% decrease in their ownership of the stock.
The PNC Financial Services Group: Price Performance
| Market Capitalization: | $59.98 billion |
| PE Ratio: | 11.02 |
| P/E/G Ratio: | 1.55 |
| Beta: | 1.04 |
| Quick Ratio: | 0.81 |
| Current Ratio: | 0.81 |
| Debt-to-Equity Ratio: | 1.13 |
Price and Earnings Performance
The PNC Financial Services Group, Inc. last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion.
Dividend and Growth Forecast
The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.22%. The PNC Financial Services Group’s payout ratio is 46.55%
Analyst Predictions
- JPMorgan Chase & Co. decreased their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd.
- Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th.
- Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th.
- The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th.
- Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st.
About The PNC Financial Services Group
The PNC Financial Services Group, Inc. operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
Key Takeaways
- The PNC Financial Services Group’s market capitalization is $59.98 billion.
- The company’s PE ratio is 11.02.
- The PNC Financial Services Group’s beta is 1.04.
- The company’s quick ratio is 0.81.
- The PNC Financial Services Group’s debt-to-equity ratio is 1.13.
- The company’s earnings per share (EPS) for the quarter was $3.77, topping analysts’ consensus estimates of $3.26.
- The PNC Financial Services Group’s net margin is 17.10% and return on equity is 11.12%.
- The company’s revenue for the quarter was $5.57 billion.
- The PNC Financial Services Group declared a quarterly dividend of $1.60 per share.
- Analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.
Get The Latest Information About The PNC Financial Services Group
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC – Free Report). You can also get the latest news and information about The PNC Financial Services Group, Inc.
news is a contributor at CreditOfficer. We are committed to providing well-researched, accurate, and valuable content to our readers.
