Keybank National Association OH Has $13.76 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Keybank National Association OH grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,115 shares of the financial services provider’s stock after purchasing an additional 3,759 shares during the quarter. Keybank National Association OH’s holdings in The PNC Financial Services Group were worth $13,758,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp grew its holdings in The PNC Financial Services Group by 3.3% during the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after purchasing an additional 39,589 shares during the period. Vanguard Group Inc. raised its holdings in The PNC Financial Services Group by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after purchasing an additional 408,464 shares during the period. Teamwork Financial Advisors LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth $13,711,000. Stoneridge Investment Partners LLC boosted its position in shares of The PNC Financial Services Group by 59.1% during the fourth quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock worth $4,953,000 after purchasing an additional 8,818 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of The PNC Financial Services Group by 27.4% in the 3rd quarter. First Trust Advisors LP now owns 1,998,954 shares of the financial services provider’s stock valued at $401,650,000 after buying an additional 430,261 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley raised their price objective on The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. raised their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Barclays lifted their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Finally, Stephens started coverage on The PNC Financial Services Group in a research report on Monday, June 15th. They issued an “overweight” rating and a $265.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.71.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $249.13 on Friday. The firm has a market cap of $100.04 billion, a PE ratio of 14.48, a PEG ratio of 1.02 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $254.00. The company has a fifty day moving average price of $226.89 and a 200 day moving average price of $220.62.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the prior year, the company earned $3.51 EPS. The company’s revenue was up 13.1% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc will post 18.82 earnings per share for the current fiscal year.

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.