Corient Capital Partners LLC Buys Shares of 2,766 PNC Financial Services Group Inc (PNC)

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Corient Capital Partners LLC bought a new stake in shares of PNC Financial Services Group Inc (NYSE:PNC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,766 shares of the financial services provider’s stock, valued at approximately $323,000.

Several other institutional investors have also recently made changes to their positions in the business. Exencial Wealth Advisors LLC increased its holdings in shares of PNC Financial Services Group by 2.9% in the third quarter. Exencial Wealth Advisors LLC now owns 29,614 shares of the financial services provider’s stock valued at $4,033,000 after purchasing an additional 847 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of PNC Financial Services Group by 29.4% in the third quarter. Russell Investments Group Ltd. now owns 420,480 shares of the financial services provider’s stock valued at $57,376,000 after purchasing an additional 95,532 shares during the last quarter. Delta Investment Management LLC acquired a new stake in shares of PNC Financial Services Group in the fourth quarter valued at approximately $350,000. First Bank & Trust acquired a new stake in shares of PNC Financial Services Group in the fourth quarter valued at approximately $439,000. Finally, Paradigm Asset Management Co. LLC acquired a new stake in shares of PNC Financial Services Group in the third quarter valued at approximately $3,772,000. 78.96% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Robert Q. Reilly sold 12,361 shares of the firm’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $122.50, for a total transaction of $1,514,222.50. Following the completion of the transaction, the executive vice president now directly owns 118,671 shares in the company, valued at $14,537,197.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael J. Hannon sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $124.82, for a total value of $624,100.00. Following the transaction, the insider now owns 53,239 shares of the company’s stock, valued at $6,645,291.98. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Several equities research analysts recently commented on PNC shares. ValuEngine raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. BMO Capital Markets cut PNC Financial Services Group from an “outperform” rating to a “market perform” rating and set a $139.00 price target for the company. in a report on Monday, November 19th. They noted that the move was a valuation call. Macquarie cut PNC Financial Services Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, November 27th. Credit Suisse Group cut their target price on PNC Financial Services Group from $150.00 to $146.00 and set a “neutral” rating for the company in a research note on Friday, December 7th. Finally, Barclays cut their target price on PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $145.45.

PNC stock opened at $126.52 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.20. The firm has a market cap of $57.68 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04. PNC Financial Services Group Inc has a 52-week low of $108.45 and a 52-week high of $163.59.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, January 16th. The financial services provider reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.04). The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.37 billion. PNC Financial Services Group had a return on equity of 11.23% and a net margin of 26.51%. PNC Financial Services Group’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $2.29 EPS. As a group, equities research analysts anticipate that PNC Financial Services Group Inc will post 11.32 earnings per share for the current fiscal year.

PNC Financial Services Group declared that its board has approved a stock repurchase program on Thursday, November 8th that permits the company to buyback $900.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 5th. Shareholders of record on Thursday, January 17th were paid a dividend of $0.95 per share. The ex-dividend date was Wednesday, January 16th. This represents a $3.80 annualized dividend and a yield of 3.00%. PNC Financial Services Group’s dividend payout ratio (DPR) is 35.48%.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, 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 PNC Financial Services Group (NYSE:PNC)

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