PNC Financial Services Group Inc (NYSE:PNC) is Benin Management CORP’s 8th Largest Position

Benin Management CORP trimmed its stake in PNC Financial Services Group Inc (NYSE:PNC) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,075 shares of the financial services provider’s stock after selling 525 shares during the period. PNC Financial Services Group accounts for approximately 2.8% of Benin Management CORP’s holdings, making the stock its 8th largest position. Benin Management CORP’s holdings in PNC Financial Services Group were worth $6,716,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PNC. West Oak Capital LLC increased its stake in PNC Financial Services Group by 99.0% in the 4th quarter. West Oak Capital LLC now owns 201 shares of the financial services provider’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Hoey Investments Inc. purchased a new stake in PNC Financial Services Group in the 4th quarter worth $32,000. Liberty Wealth Management LLC increased its stake in PNC Financial Services Group by 112.8% in the 3rd quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock worth $33,000 after buying an additional 123 shares in the last quarter. Savior LLC purchased a new stake in PNC Financial Services Group in the 4th quarter worth $34,000. Finally, Venturi Wealth Management LLC purchased a new stake in PNC Financial Services Group in the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 79.40% of the company’s stock.

A number of brokerages have issued reports on PNC. Bank of America upgraded PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $144.00 to $178.00 in a research note on Thursday, January 9th. Citigroup increased their price target on PNC Financial Services Group from $139.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Morgan Stanley increased their price target on PNC Financial Services Group from $160.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Monday, December 23rd. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Wednesday, January 8th. Finally, Barclays reiterated a “hold” rating and issued a $181.00 price target on shares of PNC Financial Services Group in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $155.35.

PNC Financial Services Group stock opened at $152.71 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.91 and a quick ratio of 0.90. PNC Financial Services Group Inc has a 1-year low of $118.70 and a 1-year high of $161.79. The firm has a market capitalization of $67.79 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 1.64 and a beta of 1.15. The company’s 50-day moving average is $157.57 and its 200 day moving average is $144.78.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $2.97 EPS for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.05. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.48 billion. PNC Financial Services Group had a net margin of 24.83% and a return on equity of 10.92%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $2.75 earnings per share. Research analysts anticipate that PNC Financial Services Group Inc will post 11.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Friday, January 17th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.39%.

In other PNC Financial Services Group news, Director Charles E. Bunch acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average cost of $153.11 per share, with a total value of $153,110.00. Following the completion of the acquisition, the director now directly owns 4,781 shares in the company, valued at approximately $732,018.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vicki C. Henn sold 3,723 shares of PNC Financial Services Group stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $151.96, for a total transaction of $565,747.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,623 shares of company stock worth $26,594,817. Corporate insiders own 0.37% of the company’s stock.

PNC Financial Services Group Company 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.

Read More: What are the benefits of investing in REITs?

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.