KG&L Capital Management LLC Boosts Position in The PNC Financial Services Group, Inc (NYSE:PNC)

KG&L Capital Management LLC grew its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 100.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,750 shares of the financial services provider's stock after acquiring an additional 3,390 shares during the quarter. KG&L Capital Management LLC's holdings in The PNC Financial Services Group were worth $1,186,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after buying an additional 984 shares in the last quarter. IFP Advisors Inc grew its position in shares of The PNC Financial Services Group by 14.7% in the fourth quarter. IFP Advisors Inc now owns 4,664 shares of the financial services provider's stock valued at $900,000 after purchasing an additional 597 shares during the period. Sentry Investment Management LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at $305,000. Bank of New York Mellon Corp grew its position in shares of The PNC Financial Services Group by 22.5% in the fourth quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after purchasing an additional 710,311 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in The PNC Financial Services Group by 7.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 161,336 shares of the financial services provider's stock worth $31,114,000 after purchasing an additional 10,818 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the 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 completion of the sale, the chief executive officer now directly owns 556,121 shares of the company's stock, valued at approximately $99,623,515.94. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares of the company's stock, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,670 shares of company stock valued at $2,099,398 in the last ninety days. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Up 1.8%

NYSE PNC traded up $3.30 on Thursday, hitting $185.81. 2,843,398 shares of the stock were exchanged, compared to its average volume of 2,085,296. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a market cap of $73.50 billion, a PE ratio of 13.12, a PEG ratio of 1.53 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average price of $170.79 and a 200-day moving average price of $180.61.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. Sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research analyst reports. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the stock from $206.00 to $202.00 in a report on Monday, March 31st. JPMorgan Chase & Co. reduced their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Barclays lowered their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Royal Bank Of Canada cut their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Finally, Truist Financial cut their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Two research 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.67.

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.