Aptus Capital Advisors LLC Has $31.54 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Aptus Capital Advisors LLC cut its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,110 shares of the financial services provider’s stock after selling 5,064 shares during the quarter. Aptus Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $31,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quarry LP bought a new stake in The PNC Financial Services Group in the third quarter worth $25,000. Modus Advisors LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $29,000. Beacon Financial Strategies CORP bought a new stake in The PNC Financial Services Group in the fourth quarter worth $35,000. JPL Wealth Management LLC bought a new stake in The PNC Financial Services Group in the third quarter worth $37,000. Finally, Financial Life Planners bought a new stake in The PNC Financial Services Group in the third quarter worth $39,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 1.5%

PNC stock opened at $237.51 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94. The company has a 50-day moving average of $220.85 and a two-hundred day moving average of $216.10. The stock has a market capitalization of $95.38 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the prior year, the company earned $3.51 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

Insider Activity

In related news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were 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 approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Barclays upped their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Bank of America upped their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Finally, Truist Financial upped their price target 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. One investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.11.

The PNC Financial Services Group Profile

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.