The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,955 shares of the financial services provider’s stock after purchasing an additional 541 shares during the quarter. Kingsview Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $2,902,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in shares of The PNC Financial Services Group by 2.6% during the fourth quarter. Nordea Investment Management AB now owns 28,055 shares of the financial services provider’s stock worth $4,360,000 after acquiring an additional 719 shares during the period. BKM Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $26,000. Dynamic Advisor Solutions LLC increased its stake in shares of The PNC Financial Services Group by 144.1% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 5,007 shares of the financial services provider’s stock worth $782,000 after acquiring an additional 2,956 shares during the period. Raymond James Trust N.A. increased its stake in shares of The PNC Financial Services Group by 6.8% during the fourth quarter. Raymond James Trust N.A. now owns 37,141 shares of the financial services provider’s stock worth $5,751,000 after acquiring an additional 2,380 shares during the period. Finally, Amplius Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $210,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares in the company, valued at $90,341,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 2,404 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now owns 564,637 shares in the company, valued at $90,341,920. The disclosure for this sale can be found here. Insiders sold 6,419 shares of company stock valued at $1,022,826 over the last 90 days. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $175.51 on Friday. The firm has a 50 day simple moving average of $158.03 and a 200-day simple moving average of $154.25. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.85. The firm has a market cap of $69.84 billion, a PE ratio of 14.74, a P/E/G ratio of 2.27 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $180.97.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business posted $3.36 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.95 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be given a $1.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.65%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $175.34.

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.