Kestra Private Wealth Services LLC Has $4.08 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kestra Private Wealth Services LLC reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,167 shares of the financial services provider’s stock after selling 90 shares during the period. Kestra Private Wealth Services LLC’s holdings in The PNC Financial Services Group were worth $4,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of The PNC Financial Services Group by 0.6% in the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of The PNC Financial Services Group by 1.2% in the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after purchasing an additional 123,994 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of The PNC Financial Services Group by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock valued at $1,541,155,000 after acquiring an additional 166,138 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of The PNC Financial Services Group by 1.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,950,394 shares of the financial services provider’s stock valued at $545,380,000 after acquiring an additional 42,887 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of The PNC Financial Services Group by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,440,098 shares of the financial services provider’s stock valued at $451,052,000 after acquiring an additional 6,438 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total value of $255,827.16. Following the completion of the transaction, the chief executive officer now owns 535,007 shares of the company’s stock, valued at $110,200,741.86. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 14,904 shares of company stock valued at $2,989,034 over the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Down 1.7 %

PNC stock opened at $197.25 on Tuesday. The stock has a market capitalization of $78.26 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The firm has a 50-day moving average price of $198.40 and a 200-day moving average price of $190.62.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PNC. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Piper Sandler boosted their target price 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. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group 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.