Lincoln National Corp Has $2.88 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Lincoln National Corp grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.4% during the 4th quarter, HoldingsChannel reports. The firm owned 18,566 shares of the financial services provider’s stock after acquiring 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 institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after acquiring an additional 893,808 shares during the last quarter. International Assets Investment Management LLC grew its position in The PNC Financial Services Group by 15,539.2% in the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after purchasing an additional 639,903 shares during the last quarter. Invesco Ltd. increased its holdings in shares of The PNC Financial Services Group by 10.4% during the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after purchasing an additional 484,475 shares during the period. Envestnet Asset Management Inc. raised its position in shares of The PNC Financial Services Group by 44.8% during the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after buying an additional 477,367 shares during the last quarter. Finally, Anchor Capital Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 601.1% in the fourth quarter. Anchor Capital Advisors LLC now owns 393,186 shares of the financial services provider’s stock valued at $60,885,000 after buying an additional 337,105 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $0.28 during trading on Tuesday, reaching $156.15. The company’s stock had a trading volume of 1,092,292 shares, compared to its average volume of 2,047,598. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock 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 PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The stock has a 50-day moving average price of $153.82 and a two-hundred day moving average price of $145.08.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations 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 was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.98 earnings per share. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Bank of America upped their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Evercore ISI decreased their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $157.02.

About The PNC Financial Services Group

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.