1,216 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Acquired by AGP Franklin LLC

AGP Franklin LLC acquired a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,216 shares of the financial services provider’s stock, valued at approximately $235,000.

Several other institutional investors have also added to or reduced their stakes in PNC. Norges Bank bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $1,352,151,000. Schroder Investment Management Group grew its position in The PNC Financial Services Group by 166.1% in the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock valued at $265,436,000 after acquiring an additional 860,554 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after acquiring an additional 726,115 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after acquiring an additional 710,311 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock valued at $2,089,622,000 after purchasing an additional 549,278 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $150.63, for a total transaction of $96,553.83. Following the transaction, the chief executive officer now owns 562,932 shares in the company, valued at $84,794,447.16. The trade was a 0.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 13,061 shares of company stock worth $2,373,424. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their target price for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Finally, Truist Financial cut their price target on The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $203.47.

The PNC Financial Services Group Trading Up 1.9 %

PNC opened at $154.91 on Tuesday. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The company has a fifty day moving average of $177.42 and a 200-day moving average of $190.02. The stock has a market cap of $61.31 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.16 EPS. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 4.13%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.