PNC Financial Services Group Inc (PNC) Shares Sold by Dupont Capital Management Corp

PNC Financial Services Group Inc (PNC) Shares Sold by Dupont Capital Management Corp

Dupont Capital Management Corp lowered its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 11.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,333 shares of the financial services provider’s stock after selling 822 shares during the period. Dupont Capital Management Corp’s holdings in PNC Financial Services Group were worth $777,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. raised its stake in shares of PNC Financial Services Group by 1.3% in the fourth quarter. BlackRock Inc. now owns 27,642,474 shares of the financial services provider’s stock valued at $3,231,680,000 after buying an additional 341,904 shares during the period. FMR LLC raised its stake in shares of PNC Financial Services Group by 32.7% in the fourth quarter. FMR LLC now owns 10,859,988 shares of the financial services provider’s stock valued at $1,269,641,000 after buying an additional 2,677,895 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of PNC Financial Services Group by 11,450.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,000,055 shares of the financial services provider’s stock valued at $51,000 after buying an additional 5,948,109 shares during the period. Geode Capital Management LLC raised its stake in shares of PNC Financial Services Group by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock valued at $647,356,000 after buying an additional 323,714 shares during the period. Finally, Northern Trust Corp raised its stake in shares of PNC Financial Services Group by 1.4% in the fourth quarter. Northern Trust Corp now owns 5,341,413 shares of the financial services provider’s stock valued at $624,465,000 after buying an additional 71,882 shares during the period. 82.20% of the stock is currently owned by institutional investors and hedge funds.

NYSE:PNC opened at $131.94 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.90 and a current ratio of 0.91. PNC Financial Services Group Inc has a 52-week low of $108.45 and a 52-week high of $152.29. The firm has a market cap of $62.19 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.59 and a beta of 1.09.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.61. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the company posted $2.43 EPS. Research analysts forecast that PNC Financial Services Group Inc will post 11.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Tuesday, April 16th were paid a dividend of $0.95 per share. The ex-dividend date was Monday, April 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.88%. PNC Financial Services Group’s payout ratio is 35.48%.

In related news, insider Joseph E. Rockey sold 6,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $135.00, for a total transaction of $810,000.00. Following the sale, the insider now directly owns 24,747 shares in the company, valued at approximately $3,340,845. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were bought at an average price of $125.69 per share, for a total transaction of $62,845.00. The disclosure for this purchase can be found here. Insiders own 0.37% of the company’s stock.

PNC has been the topic of several research reports. Bank of America lowered PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Thursday, January 10th. Zacks Investment Research lowered PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Royal Bank of Canada lowered their target price on PNC Financial Services Group to $150.00 and set an “average” rating on the stock in a research note on Thursday, January 17th. Morgan Stanley boosted their target price on PNC Financial Services Group from $138.00 to $142.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Deutsche Bank lowered PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $123.89 target price on the stock. in a research note on Friday, January 25th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $143.63.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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