The PNC Financial Services Group, Inc $PNC Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 961.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,630,300 shares of the financial services provider’s stock after buying an additional 2,382,552 shares during the period. Corient Private Wealth LLC’s holdings in The PNC Financial Services Group were worth $549,023,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PNC. Quarry LP purchased a new position in The PNC Financial Services Group in the third quarter valued at about $25,000. Modus Advisors LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $32,000. EFG International AG purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $33,000. Finally, Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $35,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $232.39 on Friday. The PNC Financial Services Group, Inc has a 52 week low of $176.16 and a 52 week high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The firm has a market cap of $93.32 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.97 and a beta of 0.92. The stock has a 50 day moving average of $222.45 and a 200-day moving average of $217.44.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business posted $3.51 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNC. Keefe, Bruyette & Woods raised their price target 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. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Finally, Stephens started coverage on shares of The PNC Financial Services Group in a research report on Monday. They issued an “overweight” rating and a $265.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.72.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. The trade was a 22.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by insiders.

The PNC Financial Services Group Company Profile

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.