Consilium Wealth Advisory LLC Makes New $705,000 Investment in The PNC Financial Services Group, Inc $PNC

Consilium Wealth Advisory LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) in the third quarter, HoldingsChannel reports. The firm purchased 3,510 shares of the financial services provider’s stock, valued at approximately $705,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $1,477,836,000. Viking Global Investors LP bought a new position in shares of The PNC Financial Services Group in the second quarter worth $442,871,000. AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 134.9% in the second quarter. AQR Capital Management LLC now owns 3,338,964 shares of the financial services provider’s stock valued at $622,450,000 after purchasing an additional 1,917,530 shares in the last quarter. Amundi raised its stake in The PNC Financial Services Group by 76.1% in the first quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock valued at $352,592,000 after purchasing an additional 944,731 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in The PNC Financial Services Group by 43.8% during the second quarter. Federated Hermes Inc. now owns 2,776,517 shares of the financial services provider’s stock worth $517,598,000 after purchasing an additional 845,148 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PNC. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. UBS Group upped their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Truist Financial lifted their price target on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Finally, Raymond James Financial upped their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.11.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Down 0.5%

Shares of NYSE:PNC opened at $210.98 on Wednesday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $214.59. The company has a market capitalization of $82.74 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The company has a fifty day moving average of $194.40 and a 200-day moving average of $194.31.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous 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. On average, equities analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

About The PNC Financial Services Group

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.