Good Steward Wealth Advisors LLC Buys New Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Good Steward Wealth Advisors LLC bought a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,345 shares of the financial services provider's stock, valued at approximately $939,000. The PNC Financial Services Group makes up about 0.9% of Good Steward Wealth Advisors LLC's portfolio, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Vanguard Group Inc. grew its stake in The PNC Financial Services Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock valued at $7,273,794,000 after acquiring an additional 268,827 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock valued at $2,089,622,000 after acquiring an additional 549,278 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after buying an additional 726,115 shares during the period. Norges Bank bought a new stake in The PNC Financial Services Group during the 4th quarter valued at about $1,352,151,000. Finally, Northern Trust Corp boosted its holdings in shares of The PNC Financial Services Group by 14.9% in the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after purchasing an additional 608,375 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company reduced their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Keefe, Bruyette & Woods decreased their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. Barclays lowered their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Truist Financial dropped their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $202.67.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $179.14, for a total value of $222,491.88. Following the sale, the chief executive officer now owns 556,121 shares of the company's stock, valued at $99,623,515.94. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,670 shares of company stock worth $2,099,398. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Up 1.1%

PNC stock opened at $175.09 on Friday. The company has a market cap of $69.26 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.47 and a beta of 1.06. The firm has a 50-day moving average of $168.58 and a two-hundred day moving average of $181.37. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. As a group, analysts forecast 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 disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

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.

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