The PNC Financial Services Group, Inc $PNC Holdings Boosted by PKS Advisory Services LLC

PKS Advisory Services LLC raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 101.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,854 shares of the financial services provider’s stock after acquiring an additional 1,944 shares during the period. PKS Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $718,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PNC. Nuveen LLC acquired a new position in The PNC Financial Services Group during the 1st quarter valued at approximately $306,905,000. Amundi lifted its stake in The PNC Financial Services Group by 76.1% in the first quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock valued at $352,592,000 after buying an additional 944,731 shares during the last quarter. AQR Capital Management LLC lifted its stake in The PNC Financial Services Group by 187.3% in the first quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider’s stock valued at $245,055,000 after buying an additional 926,709 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after acquiring an additional 830,440 shares during the period. Finally, National Bank of Canada FI grew its position in shares of The PNC Financial Services Group by 157.1% during the first quarter. National Bank of Canada FI now owns 868,901 shares of the financial services provider’s stock worth $152,726,000 after acquiring an additional 530,873 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $183.17 on Thursday. The company’s fifty day moving average is $190.42 and its two-hundred day moving average is $188.42. The company has a market cap of $71.83 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.82 billion. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The PNC Financial Services Group’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the sale, the executive vice president directly owned 27,335 shares in the company, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the transaction, the executive vice president owned 5,802 shares in the company, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,151 shares of company stock valued at $400,092. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Truist Financial raised their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, September 24th. Oppenheimer reduced their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company raised their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus price target of $218.00.

About The PNC Financial Services Group

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.