Lincoln National Corp Purchases 123 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Lincoln National Corp boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,345 shares of the financial services provider’s stock after acquiring an additional 123 shares during the quarter. Lincoln National Corp’s holdings in The PNC Financial Services Group were worth $3,015,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Citizens National Bank Trust Department bought a new position in The PNC Financial Services Group in the fourth quarter valued at $28,000. Retirement Planning Co of New England Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $30,000. Mascoma Wealth Management LLC grew its stake in shares of The PNC Financial Services Group by 89.8% during the first quarter. Mascoma Wealth Management LLC now owns 167 shares of the financial services provider’s stock valued at $31,000 after buying an additional 79 shares during the last quarter. Guardian Wealth Management Inc. bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $32,000. Finally, Covestor Ltd bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $40,000. Institutional investors own 83.54% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on The PNC Financial Services Group from $168.00 to $180.00 in a research note on Monday, July 18th. Jefferies Financial Group reduced their price objective on The PNC Financial Services Group from $188.00 to $156.00 in a research note on Monday, July 11th. Piper Sandler set a $160.00 target price on shares of The PNC Financial Services Group in a report on Tuesday, July 19th. Argus dropped their target price on shares of The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Finally, Barclays dropped their target price on shares of The PNC Financial Services Group from $250.00 to $222.00 and set an “overweight” rating for the company in a report on Monday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $197.63.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $167.04 on Friday. The company has a 50-day simple moving average of $161.81 and a two-hundred day simple moving average of $177.72. The PNC Financial Services Group, Inc. has a one year low of $146.39 and a one year high of $228.14. The firm has a market capitalization of $68.51 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 2.41 and a beta of 1.21. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.75 and a quick ratio of 0.74.

The PNC Financial Services Group (NYSE:PNCGet Rating) last released its earnings results on Friday, July 15th. The financial services provider reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.31. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the business earned $4.50 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc. will post 14.48 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Tuesday, July 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.95%.

The PNC Financial Services Group Profile

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

See Also

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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