Corient Private Wealth LLC Has $63.41 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Corient Private Wealth LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 52.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 328,793 shares of the financial services provider's stock after selling 362,008 shares during the quarter. Corient Private Wealth LLC owned 0.08% of The PNC Financial Services Group worth $63,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $30,000. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. Finally, Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $32,000. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 27th. The shares were sold at an average price of $193.62, for a total value of $240,476.04. Following the completion of the sale, the chief executive officer now owns 528,797 shares of the company's stock, valued at approximately $102,385,675.14. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 13,662 shares of company stock valued at $2,604,263 in the last quarter. 0.42% of the stock is currently owned by company insiders.

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The PNC Financial Services Group Trading Down 0.2 %

NYSE PNC traded down $0.41 during trading hours on Thursday, reaching $173.42. The company's stock had a trading volume of 2,994,467 shares, compared to its average volume of 1,747,252. 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 52 week low of $143.52 and a 52 week high of $216.26. The firm has a fifty day simple moving average of $190.77 and a 200-day simple moving average of $192.43. The stock has a market cap of $68.63 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.16 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PNC. The Goldman Sachs Group dropped their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. Compass Point upped their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Stephens restated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $203.71.

The PNC Financial Services Group 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.