AGP Franklin LLC Purchases Shares of 1,216 The PNC Financial Services Group, Inc $PNC

AGP Franklin LLC purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,216 shares of the financial services provider’s stock, valued at approximately $227,000.

A number of other large investors have also made changes to their positions in the stock. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $27,000. IMG Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at approximately $27,000. Concord Wealth Partners lifted its position in shares of The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares during the period. WPG Advisers LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth approximately $36,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PNC. UBS Group upped their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Wednesday, October 8th. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $211.00 to $220.00 in a research report on Thursday, October 9th. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.00.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,151 shares of company stock valued at $400,092. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 1.8%

Shares of PNC opened at $186.85 on Friday. The business’s 50 day simple moving average is $189.73 and its 200-day simple moving average is $188.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $73.27 billion, a P/E ratio of 12.07, a PEG ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The company had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same period last year, the company posted $3.49 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

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.