AGP Franklin LLC Makes New $235,000 Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after purchasing an additional 22,271 shares during the last quarter. Morse Asset Management Inc purchased a new stake in The PNC Financial Services Group in the 3rd quarter valued at $481,000. Wealthquest Corp bought a new position in The PNC Financial Services Group during the 3rd quarter valued at $212,000. Wilmington Savings Fund Society FSB boosted its holdings in The PNC Financial Services Group by 86.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider’s stock worth $6,367,000 after acquiring an additional 15,962 shares during the last quarter. Finally, Synovus Financial Corp grew its stake in shares of The PNC Financial Services Group by 3.7% in the 3rd quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock worth $2,631,000 after acquiring an additional 509 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PNC shares. Citigroup dropped their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, The Goldman Sachs Group decreased their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $203.47.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $154.91 on Tuesday. The company’s 50 day moving average is $177.42 and its 200-day moving average is $190.02. The firm has a market cap of $61.31 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. 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 PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.16 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $196.17, for a total value of $243,643.14. Following the transaction, the chief executive officer now owns 523,829 shares of the company’s stock, valued at approximately $102,759,534.93. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 13,061 shares of company stock worth $2,373,424 over the last ninety days. Company insiders own 0.41% of the company’s stock.

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.