AG Campbell Advisory LLC Makes New $1.75 Million Investment in The PNC Financial Services Group, Inc $PNC

Key Points

• AG Campbell Advisory LLC disclosed a new stake in The PNC Financial Services Group, buying 8,359 shares valued at about $1.75 million in the fourth quarter.
• PNC continues to see heavy institutional interest, with hedge funds and other institutional investors owning 83.53% of the stock. Several firms also increased their positions recently, including Vanguard and Truist.
• The company reported better-than-expected quarterly earnings of $4.32 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $246.72.

AG Campbell Advisory LLC acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,359 shares of the financial services provider's stock, valued at approximately $1,745,000. The PNC Financial Services Group accounts for approximately 0.6% of AG Campbell Advisory LLC's portfolio, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its position in shares of The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider's stock valued at $57,714,000 after purchasing an additional 34,009 shares in the last quarter. Truist Financial Corp grew its position in The PNC Financial Services Group by 3.3% in the 4th quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider's stock valued at $259,344,000 after buying an additional 39,589 shares in the last quarter. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider's stock worth $8,114,168,000 after acquiring an additional 408,464 shares during the period. Teamwork Financial Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth $13,711,000. Finally, Stoneridge Investment Partners LLC raised its position in The PNC Financial Services Group by 59.1% during the fourth quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider's stock valued at $4,953,000 after buying an additional 8,818 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PNC shares. Weiss Ratings reissued a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Jefferies Financial Group started coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a "buy" rating and a $250.00 price target for the company. Truist Financial increased 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 research report on Thursday, April 16th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and a consensus price target of $246.72.

The PNC Financial Services Group Stock Up 0.1%

Shares of NYSE:PNC opened at $232.39 on Friday. The stock has a market capitalization of $93.32 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock's 50-day moving average price is $222.68 and its 200-day moving average price is $217.55. The PNC Financial Services Group, Inc has a 12-month low of $176.16 and a 12-month high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analysts' expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business's revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $3.51 EPS. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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

The PNC Financial Services Group Company 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.

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