Linscomb & Williams Inc. Takes Position in PNC Financial Services Group Inc (PNC)

Linscomb & Williams Inc. purchased a new stake in PNC Financial Services Group Inc (NYSE:PNC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,380 shares of the financial services provider’s stock, valued at approximately $343,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quadrant Capital Group LLC grew its position in PNC Financial Services Group by 0.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,417 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 4 shares in the last quarter. Green Square Capital LLC grew its position in PNC Financial Services Group by 0.4% during the 2nd quarter. Green Square Capital LLC now owns 4,147 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 18 shares in the last quarter. Cetera Investment Advisers grew its position in PNC Financial Services Group by 2.0% during the 2nd quarter. Cetera Investment Advisers now owns 2,364 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 46 shares in the last quarter. Moors & Cabot Inc. grew its position in PNC Financial Services Group by 0.4% during the 2nd quarter. Moors & Cabot Inc. now owns 13,115 shares of the financial services provider’s stock worth $1,635,000 after purchasing an additional 56 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in PNC Financial Services Group by 12.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 91 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors.

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of PNC Financial Services Group from $165.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday. BMO Capital Markets reiterated a “buy” rating on shares of PNC Financial Services Group in a research report on Thursday, January 25th. Argus lifted their price objective on shares of PNC Financial Services Group to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Oppenheimer reiterated a “hold” rating on shares of PNC Financial Services Group in a research report on Tuesday, January 16th. Finally, Wells Fargo & Co set a $157.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Eighteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $145.98.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $140.98, for a total value of $704,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Hannon sold 8,011 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the completion of the sale, the insider now owns 58,820 shares of the company’s stock, valued at $9,070,044. The disclosure for this sale can be found here. Insiders sold 103,894 shares of company stock valued at $14,897,513 over the last quarter. 0.43% of the stock is currently owned by corporate insiders.

PNC Financial Services Group Inc (NYSE:PNC) opened at $157.97 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94. PNC Financial Services Group Inc has a fifty-two week low of $115.25 and a fifty-two week high of $160.07. The company has a market cap of $74,719.81, a price-to-earnings ratio of 18.56, a PEG ratio of 1.48 and a beta of 0.93.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating the consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The business had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the company posted $1.97 EPS. PNC Financial Services Group’s revenue was up 10.0% on a year-over-year basis. sell-side analysts predict that PNC Financial Services Group Inc will post 10.38 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Wednesday, January 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is presently 28.85%.

COPYRIGHT VIOLATION NOTICE: “Linscomb & Williams Inc. Takes Position in PNC Financial Services Group Inc (PNC)” was first reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.com-unik.info/2018/02/05/linscomb-williams-inc-takes-position-in-pnc-financial-services-group-inc-pnc.html.

About PNC Financial Services Group

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.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit