Argent Advisors Inc. Has $1.65 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Argent Advisors Inc. raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,536 shares of the financial services provider’s stock after buying an additional 147 shares during the period. Argent Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,646,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Parallel Advisors LLC boosted its holdings in The PNC Financial Services Group by 5.9% in the fourth quarter. Parallel Advisors LLC now owns 3,732 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 209 shares in the last quarter. one8zero8 LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $623,000. Choate Investment Advisors boosted its holdings in The PNC Financial Services Group by 2.4% in the fourth quarter. Choate Investment Advisors now owns 8,846 shares of the financial services provider’s stock worth $1,706,000 after purchasing an additional 207 shares in the last quarter. Diversified Enterprises LLC boosted its holdings in The PNC Financial Services Group by 2.6% in the fourth quarter. Diversified Enterprises LLC now owns 3,895 shares of the financial services provider’s stock worth $751,000 after purchasing an additional 100 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in The PNC Financial Services Group by 25.1% in the fourth quarter. Frank Rimerman Advisors LLC now owns 3,635 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.6 %

Shares of PNC opened at $174.07 on Tuesday. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $68.89 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.55 and a beta of 1.13. The company has a 50-day simple moving average of $191.61 and a 200-day simple moving average of $192.65.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $3.16 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PNC. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Barclays upped their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the sale, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at approximately $97,093,223.85. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 13,662 shares of company stock valued at $2,604,263 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Profile

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.