Apollon Wealth Management LLC Has $5.15 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Apollon Wealth Management LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.1% during the fourth quarter, HoldingsChannel reports. The fund owned 26,705 shares of the financial services provider’s stock after purchasing an additional 1,053 shares during the quarter. Apollon Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $5,150,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Joel Isaacson & Co. LLC boosted its holdings in The PNC Financial Services Group by 2.3% during the fourth quarter. Joel Isaacson & Co. LLC now owns 48,567 shares of the financial services provider’s stock worth $9,366,000 after purchasing an additional 1,076 shares during the last quarter. Shepherd Financial Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 4.0% in the 4th quarter. Shepherd Financial Partners LLC now owns 2,321 shares of the financial services provider’s stock worth $448,000 after purchasing an additional 89 shares in the last quarter. Exane Asset Management purchased a new position in The PNC Financial Services Group in the 4th quarter worth $22,499,000. Lecap Asset Management Ltd. purchased a new position in The PNC Financial Services Group in the 4th quarter worth approximately $414,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $72,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Down 0.8 %

NYSE PNC opened at $200.80 on Friday. The stock has a 50 day moving average price of $198.40 and a 200-day moving average price of $190.45. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a market capitalization of $79.67 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.64 and a beta of 1.16. 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 PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.16 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.19%. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Analysts Set New Price Targets

PNC has been the topic of several research analyst reports. Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Piper Sandler boosted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial lifted their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Compass Point raised their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the sale, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock worth $6,037,230 over the last three months. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Company 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.