L.M. Kohn & Company Buys 181 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

L.M. Kohn & Company raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,009 shares of the financial services provider’s stock after buying an additional 181 shares during the quarter. L.M. Kohn & Company’s holdings in The PNC Financial Services Group were worth $966,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Valley Wealth Managers Inc. raised its holdings in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the transaction, the chief executive officer now directly owns 530,039 shares in the company, valued at approximately $100,331,082.31. This represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 13,662 shares of company stock worth $2,730,549 over the last quarter. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup boosted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays upped their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Piper Sandler upped their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

PNC opened at $193.91 on Friday. The stock’s 50 day simple moving average is $197.11 and its 200 day simple moving average is $191.02. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The firm has a market cap of $76.94 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $3.16 earnings per share. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

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.