Kestra Investment Management LLC Has $98,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kestra Investment Management LLC cut its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 59.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 508 shares of the financial services provider’s stock after selling 743 shares during the quarter. Kestra Investment Management LLC’s holdings in The PNC Financial Services Group were worth $98,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $70,000. Foundations Investment Advisors LLC boosted its stake in The PNC Financial Services Group by 5.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,544 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 86 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in The PNC Financial Services Group by 49.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,519 shares of the financial services provider’s stock valued at $2,499,000 after purchasing an additional 4,446 shares during the last quarter. Signaturefd LLC boosted its stake in The PNC Financial Services Group by 2.2% during the 3rd quarter. Signaturefd LLC now owns 7,068 shares of the financial services provider’s stock valued at $1,307,000 after purchasing an additional 155 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in The PNC Financial Services Group by 193.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 4,511 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 2,976 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Down 1.2 %

PNC opened at $191.89 on Friday. The business’s fifty day simple moving average is $196.34 and its 200 day simple moving average is $191.49. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The stock has a market cap of $76.14 billion, a PE ratio of 13.96, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, research 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, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.34%. The PNC Financial Services Group’s payout ratio is 46.55%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. Wells Fargo & Company lifted 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 note on Friday, November 15th. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley lifted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler boosted their target price on 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling 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 dated Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the sale, the chief executive officer now directly owns 532,523 shares in the company, valued at $111,425,112.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 12,420 shares of company stock worth $2,474,722 over the last three months. Company insiders own 0.42% of the company’s stock.

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.