Kestra Advisory Services LLC Sells 3,732 Shares of The PNC Financial Services Group, Inc $PNC

Kestra Advisory Services LLC trimmed its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,597 shares of the financial services provider’s stock after selling 3,732 shares during the quarter. Kestra Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $28,008,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Monetary Solutions Ltd bought a new position in The PNC Financial Services Group in the 4th quarter valued at $25,000. Quarry LP bought a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $25,000. Modus Advisors LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $29,000. Financial Life Planners purchased a new stake in The PNC Financial Services Group during the first quarter worth about $31,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter worth about $32,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction on 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 directly owned 3,107 shares of the company’s stock, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,300 shares of company stock valued at $10,694,574 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded up $1.07 on Friday, reaching $251.99. 2,892,810 shares of the company’s stock were exchanged, compared to its average volume of 2,235,505. The firm has a market cap of $101.19 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.03 and a beta of 0.91. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a fifty day simple moving average of $229.90 and a 200-day simple moving average of $222.05. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $256.00.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.51 earnings per share. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 18.83 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $255.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Bank of America upped their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Stephens began coverage on The PNC Financial Services Group in a report on Monday, June 15th. They set an “overweight” rating and a $265.00 price objective for the company. Finally, Jefferies Financial Group started coverage on The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $258.09.

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.