Franklin Resources Inc. grew its position in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,031,778 shares of the financial services provider’s stock after buying an additional 71,606 shares during the quarter. Franklin Resources Inc. owned 2.05% of The PNC Financial Services Group worth $1,676,473,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PNC. O Shaughnessy Asset Management LLC grew its holdings in The PNC Financial Services Group by 1.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 157,941 shares of the financial services provider’s stock worth $32,967,000 after acquiring an additional 2,277 shares in the last quarter. Manchester Capital Management LLC grew its holdings in The PNC Financial Services Group by 17.1% during the 4th quarter. Manchester Capital Management LLC now owns 4,660 shares of the financial services provider’s stock worth $973,000 after acquiring an additional 681 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth about $157,000. CNB Bank increased its holdings in The PNC Financial Services Group by 4.9% during the fourth quarter. CNB Bank now owns 5,384 shares of the financial services provider’s stock valued at $1,124,000 after buying an additional 252 shares during the period. Finally, SouthState Bank Corp increased its holdings in The PNC Financial Services Group by 15.7% during the fourth quarter. SouthState Bank Corp now owns 1,661 shares of the financial services provider’s stock valued at $347,000 after buying an additional 225 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
The PNC Financial Services Group Trading Up 0.2%
Shares of NYSE:PNC opened at $228.76 on Monday. The PNC Financial Services Group, Inc has a 12-month low of $172.73 and a 12-month high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $91.86 billion, a PE ratio of 13.29, a PEG ratio of 0.95 and a beta of 0.92. The business has a 50 day moving average of $218.12 and a two-hundred day moving average of $214.61.
The PNC Financial Services Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. Citigroup increased their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They set a “buy” rating and a $250.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.
Get Our Latest Analysis on The PNC Financial Services Group
Insider Transactions at The PNC Financial Services Group
In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.
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.
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