Kestra Private Wealth Services LLC Takes $753,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kestra Private Wealth Services LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,850 shares of the financial services provider’s stock, valued at approximately $753,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at $8,534,000. Sageworth Trust Co lifted its stake in shares of The PNC Financial Services Group by 1,722.5% during the third quarter. Sageworth Trust Co now owns 5,504 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 5,202 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of The PNC Financial Services Group during the second quarter valued at $1,098,000. Bank of Nova Scotia lifted its stake in shares of The PNC Financial Services Group by 7.0% during the second quarter. Bank of Nova Scotia now owns 148,350 shares of the financial services provider’s stock valued at $15,608,000 after acquiring an additional 9,676 shares during the period. Finally, California Public Employees Retirement System lifted its stake in The PNC Financial Services Group by 2.4% in the third quarter. California Public Employees Retirement System now owns 974,738 shares of the financial services provider’s stock valued at $107,133,000 after buying an additional 22,880 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of PNC opened at $126.89 on Wednesday. The PNC Financial Services Group, Inc. has a 12 month low of $79.41 and a 12 month high of $161.79. The firm has a fifty day simple moving average of $114.62 and a 200 day simple moving average of $109.55. The stock has a market capitalization of $53.76 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 3.17 and a beta of 1.24. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.79.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Monday, October 19th. The financial services provider reported $3.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $1.27. The PNC Financial Services Group had a net margin of 38.16% and a return on equity of 5.97%. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter in the prior year, the company posted $2.94 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 5.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Friday, October 16th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.63%. The ex-dividend date was Thursday, October 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.39%.

Several research firms have weighed in on PNC. TheStreet raised The PNC Financial Services Group from a “c” rating to a “b-” rating in a research note on Wednesday, October 14th. JPMorgan Chase & Co. increased their target price on The PNC Financial Services Group from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Odeon Capital Group raised The PNC Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, September 11th. Bank of America lifted their price target on shares of The PNC Financial Services Group from $135.00 to $138.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Finally, Oppenheimer reiterated a “hold” rating on shares of The PNC Financial Services Group in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $123.75.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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