PKS Advisory Services LLC Acquires New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

PKS Advisory Services LLC bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,850 shares of the financial services provider’s stock, valued at approximately $357,000.

A number of other hedge funds also recently added to or reduced their stakes in PNC. Principal Financial Group Inc. lifted its position in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of The PNC Financial Services Group by 3.0% in the third quarter. Great Valley Advisor Group Inc. now owns 7,989 shares of the financial services provider’s stock valued at $1,477,000 after purchasing an additional 230 shares during the period. Swedbank AB raised its holdings in shares of The PNC Financial Services Group by 0.4% during the third quarter. Swedbank AB now owns 212,137 shares of the financial services provider’s stock valued at $39,214,000 after buying an additional 855 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of The PNC Financial Services Group by 11.8% during the third quarter. Daiwa Securities Group Inc. now owns 48,511 shares of the financial services provider’s stock worth $8,967,000 after buying an additional 5,135 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $171,000. 83.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the sale, the chief executive officer now directly owns 528,797 shares of the company’s stock, valued at $102,385,675.14. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 13,662 shares of company stock worth $2,582,789. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $176.84 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a market cap of $69.98 billion, a PE ratio of 12.86, a PEG ratio of 1.55 and a beta of 1.13. The stock’s 50-day moving average price is $189.33 and its two-hundred day moving average price is $192.31.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNC. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Barclays raised their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler upped their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Citigroup lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday. Two research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $201.65.

The PNC Financial Services Group Company 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.