Clear Trail Advisors LLC Acquires New Holdings in The PNC Financial Services Group, Inc $PNC

Clear Trail Advisors LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,360 shares of the financial services provider’s stock, valued at approximately $699,000.

Several other hedge funds also recently bought and sold shares of PNC. Elk River Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $6,492,000. Intergy Private Wealth LLC acquired a new position in shares of The PNC Financial Services Group in the 1st quarter worth approximately $3,364,000. Brookstone Capital Management boosted its position in shares of The PNC Financial Services Group by 1.9% during the 1st quarter. Brookstone Capital Management now owns 8,254 shares of the financial services provider’s stock worth $1,718,000 after purchasing an additional 151 shares during the period. Roble Belko & Company Inc boosted its position in shares of The PNC Financial Services Group by 6.2% during the 1st quarter. Roble Belko & Company Inc now owns 1,704 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 100 shares during the period. Finally, Smith Salley Wealth Management increased its holdings in The PNC Financial Services Group by 2.2% in the 1st quarter. Smith Salley Wealth Management now owns 79,656 shares of the financial services provider’s stock valued at $16,576,000 after purchasing an additional 1,697 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $234.49 on Tuesday. 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 PNC Financial Services Group, Inc has a 52-week low of $176.16 and a 52-week high of $243.94. The firm has a market cap of $94.16 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The company’s 50 day moving average is $222.91 and its two-hundred day moving average is $218.02.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 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 during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the previous year, the firm posted $3.51 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group, Inc will post 18.81 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend 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%.

Insider Buying and Selling

In other news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,300 shares of company stock valued at $10,694,574 in the last three months. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. JPMorgan Chase & Co. lifted their price objective on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Truist Financial raised their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a report on Thursday, April 16th. One equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.72.

The PNC Financial Services Group 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.