Kestra Private Wealth Services LLC Boosts Holdings in The PNC Financial Services Group, Inc $PNC

Kestra Private Wealth Services LLC lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 16.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,061 shares of the financial services provider’s stock after acquiring an additional 3,477 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in The PNC Financial Services Group were worth $5,215,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cvfg LLC boosted its stake in shares of The PNC Financial Services Group by 2.5% during the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after buying an additional 43 shares during the last quarter. YANKCOM Partnership increased its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after buying an additional 46 shares during the last quarter. Westfuller Advisors LLC increased its stake in shares of The PNC Financial Services Group by 26.9% in the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after buying an additional 46 shares during the last quarter. Baron Wealth Management LLC raised its holdings in The PNC Financial Services Group by 3.0% in the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 46 shares in the last quarter. Finally, Atom Investors LP boosted its stake in The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $245.61 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $224.53 and its 200 day moving average price is $219.12. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $249.01. The firm has a market cap of $98.63 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.01 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate 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 PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.51 earnings per share. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 2.8%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Analysts Set New Price Targets

PNC has been the subject of several research analyst reports. Citigroup boosted their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Barclays increased their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Bank of America boosted their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Stephens assumed coverage on The PNC Financial Services Group in a research note on Monday, June 15th. They set an “overweight” rating and a $265.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $247.39.

Insiders Place Their Bets

In related news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,300 shares of company stock valued at $10,694,574 over the last three months. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group 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.