Kestra Advisory Services LLC Has $28.01 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Kestra Advisory Services LLC decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & 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 reporting period.

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

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 45,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. 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. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PNC shares. Bank of America raised their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $268.00 to $271.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. UBS Group upped their price target on shares of The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their price target on The PNC Financial Services Group from $264.00 to $270.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $258.09.

The PNC Financial Services Group Trading Up 0.4%

Shares of NYSE:PNC traded up $1.07 during mid-day trading on Friday, hitting $251.99. The company had a trading volume of 2,892,810 shares, compared to its average volume of 2,235,505. 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 PNC Financial Services Group, Inc has a one year low of $176.88 and a one year high of $256.00. The firm has a fifty day moving average price of $229.90 and a 200 day moving average price of $222.05. The company has a market capitalization of $101.19 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (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 for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the firm earned $3.51 earnings per share. The PNC Financial Services Group’s revenue was up 13.1% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 18.83 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a $2.00 dividend. 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 dividend payout ratio is presently 39.51%.

The PNC Financial Services Group Company 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.