Keudell Morrison Wealth Management Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Keudell Morrison Wealth Management decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,026 shares of the financial services provider’s stock after selling 174 shares during the period. Keudell Morrison Wealth Management’s holdings in The PNC Financial Services Group were worth $391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PNC. AQR Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 14.2% in the second quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock worth $6,983,000 after buying an additional 5,640 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of The PNC Financial Services Group by 9.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 39,397 shares of the financial services provider’s stock worth $6,125,000 after purchasing an additional 3,240 shares during the last quarter. Quarry LP increased its holdings in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. EP Wealth Advisors LLC raised its position in The PNC Financial Services Group by 11.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 3,725 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 395 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in The PNC Financial Services Group by 4.2% in the 2nd quarter. Cetera Investment Advisers now owns 117,328 shares of the financial services provider’s stock worth $18,242,000 after buying an additional 4,745 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.0 %

PNC stock opened at $202.08 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The stock has a market capitalization of $80.18 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.64 and a beta of 1.16. The business has a fifty day moving average price of $200.04 and a 200-day moving average price of $189.44.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $3.16 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.17%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Activity

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares of the company’s stock, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $196.17, for a total transaction of $243,643.14. Following the completion of the transaction, the chief executive officer now owns 523,829 shares of the company’s stock, valued at approximately $102,759,534.93. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,171 shares of company stock valued at $5,786,210 in the last ninety days. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Compass Point lifted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $205.00.

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.