Argyle Capital Management LLC Purchases 385 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Argyle Capital Management LLC raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,903 shares of the financial services provider’s stock after purchasing an additional 385 shares during the quarter. The PNC Financial Services Group accounts for 2.5% of Argyle Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Argyle Capital Management LLC’s holdings in The PNC Financial Services Group were worth $6,345,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its stake in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. grew its holdings in shares of The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 53 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 55 shares in the last quarter. Finally, Altman Advisors Inc. raised its holdings in shares of The PNC Financial Services Group by 0.5% during the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after acquiring an additional 56 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Up 0.8 %

Shares of NYSE:PNC opened at $188.46 on Friday. The company has a market cap of $74.78 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.55 and a beta of 1.16. The stock’s 50-day moving average is $195.43 and its 200-day moving average is $192.15. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. 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 issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company 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 return on equity of 11.12% and a net margin of 17.10%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $3.16 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the completion of the sale, the chief executive officer now owns 531,281 shares in the company, valued at approximately $107,881,919.86. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 12,420 shares of company stock valued at $2,445,461. 0.42% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PNC has been the subject of several recent research reports. Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays increased their price objective on 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. Finally, Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $205.00.

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.