Aptus Capital Advisors LLC Has $31.38 Million Stake in The PNC Financial Services Group, Inc $PNC

Aptus Capital Advisors LLC increased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 328.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,174 shares of the financial services provider’s stock after buying an additional 119,754 shares during the quarter. Aptus Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $31,380,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. One Wealth Capital Management LLC bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $225,000. Barclays PLC raised its stake in The PNC Financial Services Group by 15.2% in the third quarter. Barclays PLC now owns 1,317,867 shares of the financial services provider’s stock valued at $264,799,000 after purchasing an additional 174,157 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in The PNC Financial Services Group by 1.2% in the third quarter. Crossmark Global Holdings Inc. now owns 51,447 shares of the financial services provider’s stock valued at $10,337,000 after purchasing an additional 585 shares in the last quarter. Advisory Alpha LLC lifted its position in The PNC Financial Services Group by 23.1% during the third quarter. Advisory Alpha LLC now owns 2,215 shares of the financial services provider’s stock worth $439,000 after purchasing an additional 415 shares during the period. Finally, IFG Advisory LLC grew its stake in The PNC Financial Services Group by 42.3% during the third quarter. IFG Advisory LLC now owns 7,087 shares of the financial services provider’s stock worth $1,424,000 after buying an additional 2,106 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the transaction, the chief executive officer directly owned 554,274 shares in the company, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares of the company’s stock, valued at $448,563.16. The trade was a 79.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 64,186 shares of company stock valued at $14,840,973. 0.41% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PNC. Royal Bank Of Canada boosted their target price on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Barclays raised their target price on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Truist Financial lifted their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Finally, Morgan Stanley upped their price objective on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.44.

The PNC Financial Services Group Trading Down 0.7%

Shares of PNC stock opened at $212.32 on Friday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94. The stock’s fifty day simple moving average is $222.32 and its 200 day simple moving average is $204.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $85.64 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.89 and a beta of 0.98.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $3.77 earnings per share. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.