The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Lincoln National Corp

Lincoln National Corp grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,566 shares of the financial services provider’s stock after buying an additional 949 shares during the quarter. Lincoln National Corp’s holdings in The PNC Financial Services Group were worth $2,875,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Fortitude Family Office LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $28,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PNC shares. UBS Group raised their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Bank of America lifted their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Finally, Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $157.02.

The PNC Financial Services Group Stock Down 0.2 %

Shares of PNC stock traded down $0.28 during trading hours on Tuesday, reaching $156.15. The company had a trading volume of 1,092,292 shares, compared to its average volume of 2,047,598. The company has a market capitalization of $62.12 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The stock’s fifty day simple moving average is $153.82 and its 200 day simple moving average is $145.08.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.98 earnings per share. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.97%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group 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.