PNC Financial Services Group Inc. Decreases Stock Holdings in BHP Group Limited (NYSE:BHP)

PNC Financial Services Group Inc. lessened its position in shares of BHP Group Limited (NYSE:BHP) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,972 shares of the mining company’s stock after selling 443 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BHP Group were worth $3,124,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in shares of BHP Group during the 4th quarter valued at approximately $29,000. Versant Capital Management Inc purchased a new stake in shares of BHP Group during the 4th quarter valued at approximately $40,000. Union Bancaire Privee UBP SA purchased a new stake in shares of BHP Group during the 4th quarter valued at approximately $46,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of BHP Group during the 4th quarter valued at approximately $54,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in BHP Group by 42.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,169 shares of the mining company’s stock valued at $73,000 after purchasing an additional 351 shares during the period. Hedge funds and other institutional investors own 3.79% of the company’s stock.

BHP Group Stock Performance

Shares of BHP stock opened at $48.68 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.25 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $49.88 and a 200 day moving average price of $52.76. The company has a market cap of $123.43 billion, a P/E ratio of 11.06 and a beta of 0.90. BHP Group Limited has a 12 month low of $48.06 and a 12 month high of $63.21.

BHP Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 7th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 4.8%. BHP Group’s payout ratio is currently 44.77%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group cut their target price on BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Clarkson Capital upgraded shares of BHP Group to a “strong-buy” rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $53.00.

About BHP Group

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.