Consilium Wealth Advisory LLC Takes Position in The PNC Financial Services Group, Inc $PNC

Consilium Wealth Advisory LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,510 shares of the financial services provider’s stock, valued at approximately $705,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Focus Partners Advisor Solutions LLC increased its stake in The PNC Financial Services Group by 28.1% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 29,353 shares of the financial services provider’s stock valued at $5,159,000 after buying an additional 6,430 shares during the last quarter. Cullen Capital Management LLC boosted its stake in shares of The PNC Financial Services Group by 3.8% during the 2nd quarter. Cullen Capital Management LLC now owns 204,875 shares of the financial services provider’s stock worth $38,193,000 after buying an additional 7,478 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of The PNC Financial Services Group by 115.1% in the 2nd quarter. Harbour Investments Inc. now owns 5,631 shares of the financial services provider’s stock valued at $1,050,000 after acquiring an additional 3,013 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $573,000. Finally, AQR Capital Management LLC raised its holdings in The PNC Financial Services Group by 134.9% during the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock worth $622,450,000 after acquiring an additional 1,917,530 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other news, EVP Guild Deborah sold 1,080 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PNC shares. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. UBS Group raised their target price on shares of The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Finally, Oppenheimer dropped their target price on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $219.11.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $210.98 on Wednesday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $214.59. The company has a market cap of $82.74 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.19 and a beta of 1.01. The firm’s fifty day moving average price is $194.40 and its two-hundred day moving average price is $194.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter last year, the company posted $3.49 EPS. The PNC Financial Services Group’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, October 14th. The PNC Financial Services Group’s payout ratio is currently 43.93%.

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.