Franklin Resources Inc. Boosts Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Franklin Resources Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,286,202 shares of the financial services provider's stock after purchasing an additional 123,994 shares during the period. Franklin Resources Inc. owned 2.59% of The PNC Financial Services Group worth $1,939,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PNC. ORG Partners LLC lifted its holdings in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock worth $26,000 after buying an additional 110 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group during the second quarter worth approximately $33,000. Valley Wealth Managers Inc. boosted its holdings in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. GPS Wealth Strategies Group LLC purchased a new position in The PNC Financial Services Group in the second quarter valued at approximately $38,000. Finally, Quarry LP raised its holdings in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider's stock worth $45,000 after purchasing an additional 170 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $0.81 during trading on Friday, reaching $201.50. The company's stock had a trading volume of 1,443,400 shares, compared to its average volume of 1,864,816. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a market capitalization of $79.95 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The business has a 50 day moving average price of $198.46 and a 200-day moving average price of $179.61.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the firm earned $3.60 earnings per share. The firm's revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.18%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is currently 54.10%.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the completion of the transaction, the chief executive officer now owns 549,733 shares in the company, valued at $101,007,941.42. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company's stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,030 shares of company stock valued at $5,873,691. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Stephens increased their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 16th. Evercore ISI boosted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Barclays raised their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Piper Sandler boosted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Citigroup raised their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Hold" and an average target price of $198.02.

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.