Argent Advisors Inc. Buys 147 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Argent Advisors Inc. increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,536 shares of the financial services provider’s stock after acquiring an additional 147 shares during the quarter. Argent Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,646,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PNC. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Up 0.6 %

Shares of NYSE:PNC opened at $174.07 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $191.61 and its 200 day simple moving average is $192.65. The firm has a market cap of $68.89 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the business posted $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.68%. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 27th. The shares were sold at an average price of $193.62, for a total value of $240,476.04. Following the sale, the chief executive officer now directly owns 528,797 shares in the company, valued at approximately $102,385,675.14. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 13,662 shares of company stock worth $2,604,263. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Company Profile

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.