The PNC Financial Services Group, Inc $PNC Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 961.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,630,300 shares of the financial services provider’s stock after acquiring an additional 2,382,552 shares during the quarter. Corient Private Wealth LLC owned 0.67% of The PNC Financial Services Group worth $549,023,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PNC. Brighton Jones LLC boosted its position in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of The PNC Financial Services Group by 2.1% in the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 170 shares during the period. Sivia Capital Partners LLC boosted its holdings in The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock worth $807,000 after buying an additional 1,449 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in The PNC Financial Services Group by 1.5% during the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock worth $34,409,000 after buying an additional 2,808 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in The PNC Financial Services Group during the second quarter worth about $482,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNC has been the topic of several research analyst reports. Morgan Stanley boosted their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Finally, Truist Financial raised their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.72.

Insider Buying and Selling

In other news, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares in the company, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

PNC opened at $232.39 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $176.16 and a 1 year high of $243.94. The company’s 50 day simple moving average is $222.45 and its 200 day simple moving average is $217.44. The stock has a market capitalization of $93.32 billion, a PE ratio of 13.50, a P/E/G ratio of 0.97 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the firm posted $3.51 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc will post 18.81 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

The PNC Financial Services Group Company Profile

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.