Corient Private Wealth LLC Has $63.41 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Corient Private Wealth LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 52.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 328,793 shares of the financial services provider’s stock after selling 362,008 shares during the period. Corient Private Wealth LLC owned 0.08% of The PNC Financial Services Group worth $63,408,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PNC. Principal Financial Group Inc. boosted its stake in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after acquiring an additional 22,271 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in The PNC Financial Services Group by 5.1% during the third quarter. Oppenheimer & Co. Inc. now owns 12,736 shares of the financial services provider’s stock worth $2,354,000 after purchasing an additional 613 shares during the period. Empowered Funds LLC boosted its position in The PNC Financial Services Group by 448.1% during the third quarter. Empowered Funds LLC now owns 33,281 shares of the financial services provider’s stock worth $6,152,000 after purchasing an additional 27,209 shares during the period. Coastline Trust Co acquired a new position in The PNC Financial Services Group during the third quarter valued at approximately $104,000. Finally, Schneider Downs Wealth Management Advisors LP raised its position in shares of The PNC Financial Services Group by 7.9% in the third quarter. Schneider Downs Wealth Management Advisors LP now owns 4,325 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 315 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $178.83, for a total transaction of $222,106.86. Following the completion of the sale, the chief executive officer now directly owns 568,541 shares of the company’s stock, valued at $101,672,187.03. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 12,420 shares of company stock worth $2,391,695 over the last ninety days. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PNC shares. Stephens reiterated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley raised their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Compass Point increased their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Trading Up 2.3 %

Shares of PNC opened at $172.80 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market cap of $68.39 billion, a PE ratio of 12.57, a PEG ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The stock has a 50 day simple moving average of $192.04 and a 200-day simple moving average of $192.71.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.16 earnings per share. On average, sell-side analysts predict 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 company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

About The PNC Financial Services Group

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.