Stratos Wealth Partners LTD. Has $9.29 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Stratos Wealth Partners LTD. lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 44,522 shares of the financial services provider’s stock after buying an additional 8,306 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in The PNC Financial Services Group were worth $9,293,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PNC. Mirae Asset Global Investments Co. Ltd. lifted its position in The PNC Financial Services Group by 12.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after buying an additional 6,572 shares in the last quarter. US Bancorp DE increased its position in The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock valued at $57,714,000 after acquiring an additional 34,009 shares in the last quarter. Envestnet Asset Management Inc. increased its position in The PNC Financial Services Group by 1.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock valued at $369,169,000 after acquiring an additional 22,325 shares in the last quarter. National Pension Service raised its stake in shares of The PNC Financial Services Group by 2.5% in the third quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock worth $215,113,000 after acquiring an additional 26,305 shares during the last quarter. Finally, Savant Capital LLC raised its stake in shares of The PNC Financial Services Group by 8.7% in the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after acquiring an additional 7,064 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on PNC. Morgan Stanley decreased their price target on shares of The PNC Financial Services Group from $283.00 to $263.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. Barclays increased their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Finally, Oppenheimer dropped their target price on The PNC Financial Services Group from $284.00 to $263.00 and set an “outperform” rating for the company in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $238.28.

The PNC Financial Services Group Stock Up 0.0%

Shares of NYSE:PNC opened at $211.76 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $85.42 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 0.95 and a beta of 0.96. The company has a 50 day moving average of $217.53 and a 200-day moving average of $205.36. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the prior year, the business posted $3.77 earnings per share. The PNC Financial Services Group’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is 40.99%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This represents a 79.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $230.88, for a total value of $11,544,000.00. Following the transaction, the chief executive officer owned 554,274 shares in the company, valued at approximately $127,970,781.12. This trade represents a 8.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 64,186 shares of company stock valued at $14,840,973 over the last 90 days. Company insiders own 0.38% of the company’s stock.

About The PNC Financial Services Group

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.