Guggenheim Capital LLC Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Guggenheim Capital LLC lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 37.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 40,013 shares of the financial services provider’s stock after purchasing an additional 10,874 shares during the quarter. Guggenheim Capital LLC’s holdings in The PNC Financial Services Group were worth $7,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PNC. Vanguard Group Inc. increased its stake in The PNC Financial Services Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock valued at $7,273,794,000 after purchasing an additional 268,827 shares during the period. Franklin Resources Inc. lifted its position in The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after acquiring an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the last quarter. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,352,151,000. Finally, Bank of New York Mellon Corp raised its stake in shares of The PNC Financial Services Group by 22.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock worth $746,435,000 after purchasing an additional 710,311 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.3 %

PNC stock opened at $152.05 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a market cap of $60.17 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a fifty day simple moving average of $174.58 and a 200-day simple moving average of $189.29.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 4.21%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $202.11, for a total value of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at $105,620,058.57. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 11,819 shares of company stock worth $2,127,508 in the last quarter. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Truist Financial cut their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a report on Wednesday. Barclays reduced their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Citigroup decreased their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $200.88.

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.