Kentucky Trust Co Makes New $3.40 Million Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kentucky Trust Co purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 17,614 shares of the financial services provider’s stock, valued at approximately $3,397,000. The PNC Financial Services Group accounts for approximately 2.0% of Kentucky Trust Co’s portfolio, making the stock its 9th largest position.

Several other hedge funds also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC lifted its holdings in shares of The PNC Financial Services Group by 21.1% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,894 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 1,550 shares in the last quarter. TFB Advisors LLC raised its position in shares of The PNC Financial Services Group by 3.3% during the 4th quarter. TFB Advisors LLC now owns 1,799 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 58 shares during the period. Certuity LLC raised its position in shares of The PNC Financial Services Group by 2.7% during the 4th quarter. Certuity LLC now owns 106,193 shares of the financial services provider’s stock valued at $20,479,000 after purchasing an additional 2,777 shares during the period. Community Financial Services Group LLC grew its stake in The PNC Financial Services Group by 6.8% during the fourth quarter. Community Financial Services Group LLC now owns 34,359 shares of the financial services provider’s stock valued at $6,626,000 after acquiring an additional 2,183 shares in the last quarter. Finally, Schear Investment Advisers LLC grew its stake in The PNC Financial Services Group by 18.5% during the fourth quarter. Schear Investment Advisers LLC now owns 10,927 shares of the financial services provider’s stock valued at $2,107,000 after acquiring an additional 1,703 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stephens reissued an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Compass Point lifted their price objective 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. Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $205.00.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the completion of the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 14,904 shares of company stock valued at $2,989,034 over the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 1.1 %

Shares of PNC opened at $199.37 on Wednesday. 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 PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The firm has a 50-day moving average price of $198.12 and a 200 day moving average price of $190.74. The firm has a market capitalization of $79.10 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.21%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.