Lokken Investment Group LLC Has $224,000 Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Lokken Investment Group LLC cut its position in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 35.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,449 shares of the financial services provider’s stock after selling 802 shares during the period. Lokken Investment Group LLC’s holdings in The PNC Financial Services Group were worth $224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after purchasing an additional 1,978,854 shares in the last quarter. FMR LLC lifted its position in shares of The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after purchasing an additional 893,808 shares in the last quarter. Norges Bank acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $1,039,481,000. Invesco Ltd. lifted its position in shares of The PNC Financial Services Group by 10.4% during the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock worth $634,024,000 after purchasing an additional 484,475 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after purchasing an additional 3,046,226 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNC has been the topic of a number of research reports. Bank of America upped their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Evercore ISI cut their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $157.02.

View Our Latest Analysis on PNC

Insider Transactions at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Stock Up 0.6 %

Shares of PNC stock opened at $155.88 on Friday. The firm has a fifty day moving average of $155.62 and a 200-day moving average of $150.91. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a market capitalization of $62.03 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 2.99 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $3.98 earnings per share. The firm’s revenue was down 8.2% compared to the same quarter last year. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

The PNC Financial Services Group Company Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.