Corient Private Wealth LP Sells 6,002 Shares of The PNC Financial Services Group, Inc $PNC

Corient Private Wealth LP decreased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 328,765 shares of the financial services provider's stock after selling 6,002 shares during the quarter. Corient Private Wealth LP owned about 0.08% of The PNC Financial Services Group worth $80,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. California State Teachers Retirement System lifted its holdings in shares of The PNC Financial Services Group by 24,820.0% in the 2nd quarter. California State Teachers Retirement System now owns 154,202,415 shares of the financial services provider's stock worth $37,967,719,000 after purchasing an additional 153,583,625 shares in the last quarter. BlackRock Inc. bought a new stake in shares of The PNC Financial Services Group during the second quarter worth about $7,921,455,000. State Street Corp increased its position in shares of The PNC Financial Services Group by 0.4% during the fourth quarter. State Street Corp now owns 17,319,434 shares of the financial services provider's stock worth $3,615,085,000 after acquiring an additional 77,302 shares in the last quarter. Capital International Investors raised its holdings in shares of The PNC Financial Services Group by 10.2% in the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider's stock worth $2,491,819,000 after acquiring an additional 1,101,055 shares during the last quarter. Finally, Norges Bank bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $1,967,080,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares of the company's stock, valued at $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PNC has been the topic of several analyst reports. UBS Group lifted their target price on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft lowered shares of The PNC Financial Services Group from a "buy" rating to a "hold" rating and set a $265.00 target price for the company. in a research note on Thursday, July 23rd. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Weiss Ratings reissued a "buy (b)" rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th. Finally, Citigroup boosted their price objective on The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $265.73.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $244.32 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. The stock has a market cap of $97.47 billion, a PE ratio of 13.45, a PEG ratio of 1.21 and a beta of 0.90. The company's fifty day moving average is $249.01 and its 200 day moving average is $230.27. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $258.96.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm had revenue of $6.88 billion for the quarter, compared to analysts' expectations of $6.51 billion. During the same period last year, the firm earned $3.85 earnings per share. The company's revenue for the quarter was up 21.4% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a $2.00 dividend. The ex-dividend date was Monday, July 20th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.3%. The PNC Financial Services Group's dividend payout ratio is presently 44.03%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through PNC Bank and its other businesses, the company provides banking, lending, investment, and financial advisory services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC's offerings include checking and savings accounts, consumer and commercial loans, residential mortgages, credit cards, treasury management, payment processing, and corporate banking services.

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