The PNC Financial Services Group, Inc $PNC Stock Holdings Increased by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC increased its PNC stake by 8.5% in the fourth quarter, buying 21,061 additional shares and bringing its total to 268,809 shares worth about $56.1 million.
• PNC reported stronger-than-expected quarterly earnings of $4.32 per share, beating estimates, while revenue rose 13.1% year over year to $6.17 billion. Analysts expect the company to earn 18.81 EPS this year.
• The company continues to return cash to shareholders with a quarterly dividend of $1.70 per share, equal to an annualized yield of 2.9%. Despite some insider selling, analysts still rate the stock a Moderate Buy on average.

Corient Private Wealth LLC raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 268,809 shares of the financial services provider's stock after buying an additional 21,061 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of The PNC Financial Services Group worth $56,117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Cvfg LLC increased its position in shares of The PNC Financial Services Group by 2.5% during the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider's stock valued at $366,000 after purchasing an additional 43 shares during the period. YANKCOM Partnership lifted its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock valued at $539,000 after acquiring an additional 46 shares during the last quarter. Westfuller Advisors LLC boosted its position in shares of The PNC Financial Services Group by 26.9% during the 4th quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 46 shares in the last quarter. Atom Investors LP boosted its position in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider's stock valued at $529,000 after purchasing an additional 46 shares in the last quarter. Finally, Flavin Financial Services Inc. grew its stake in shares of The PNC Financial Services Group by 0.4% in the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider's stock worth $2,847,000 after purchasing an additional 48 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $232.39 on Friday. The PNC Financial Services Group, Inc has a twelve month low of $176.16 and a twelve month high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market cap of $93.32 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.95 and a beta of 0.92. The business has a 50 day moving average price of $222.68 and a 200 day moving average price of $217.55.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the company posted $3.51 earnings per share. The PNC Financial Services Group's quarterly revenue was up 13.1% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. Barclays upped their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price objective on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Finally, Citigroup boosted their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $246.72.

Insiders Place Their Bets

In other news, EVP Stephanie Novosel sold 1,800 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president owned 3,107 shares of the company's stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the sale, the executive vice president directly owned 5,059 shares of the company's stock, valued at $1,204,750.26. This represents a 22.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,300 shares of company stock worth $10,694,574 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.