Eagle Global Advisors LLC Has $19.13 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Eagle Global Advisors increased its stake in The PNC Financial Services Group by 98.6% in Q4 to 91,664 shares valued at about $19.13 million.
• Company insiders have been net sellers, offloading 64,186 shares worth roughly $14.84 million over the past 90 days, including notable EVP sales in February.
• PNC beat Q1 estimates with $4.32 EPS (vs. $3.92 expected) and 13.1% revenue growth year‑over‑year, and announced a quarterly dividend of $1.70 (3.0% yield; $6.80 annualized).

Eagle Global Advisors LLC grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 98.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,664 shares of the financial services provider's stock after buying an additional 45,514 shares during the quarter. Eagle Global Advisors LLC's holdings in The PNC Financial Services Group were worth $19,133,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $25,000. Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $35,000. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $34,000. JPL Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $37,000. Finally, Financial Life Planners acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Activity

In other The PNC Financial Services Group news, EVP Louis Robert Cestello sold 4,279 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares of the company's stock, valued at $4,415,066.67. This represents a 18.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the sale, the executive vice president directly owned 1,942 shares in the company, valued at approximately $448,563.16. This represents a 79.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 64,186 shares of company stock worth $14,840,973. Company insiders own 0.38% of the company's stock.

The PNC Financial Services Group Trading Up 0.4%

Shares of The PNC Financial Services Group stock opened at $227.97 on Wednesday. The stock has a market capitalization of $91.96 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 0.95 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.00. The company has a 50-day simple moving average of $215.20 and a 200 day simple moving average of $207.00. The PNC Financial Services Group, Inc has a 12-month low of $151.10 and a 12-month high of $243.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 20.89% and a return on equity of 12.10%. The firm's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $3.51 EPS. Research analysts expect that The PNC Financial Services Group, Inc will post 18.76 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The PNC Financial Services Group's dividend payout ratio (DPR) is 39.51%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PNC. Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an "outperform" rating in a research note on Thursday, April 16th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an "overweight" rating in a research note on Tuesday, January 20th. TD Cowen increased their price objective on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $241.69.

About The PNC Financial Services Group

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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