Okabena Investment Services Inc. Takes Position in The PNC Financial Services Group, Inc $PNC

Okabena Investment Services Inc. purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,872 shares of the financial services provider’s stock, valued at approximately $808,000.

Several other hedge funds also recently modified their holdings of the company. Tobias Financial Advisors Inc. acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $221,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of The PNC Financial Services Group by 2.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 56,755 shares of the financial services provider’s stock valued at $11,846,000 after acquiring an additional 1,619 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of The PNC Financial Services Group by 694.4% during the 4th quarter. Panagora Asset Management Inc. now owns 97,969 shares of the financial services provider’s stock valued at $20,449,000 after acquiring an additional 85,637 shares in the last quarter. Resources Management Corp CT ADV boosted its holdings in shares of The PNC Financial Services Group by 593.8% during the 4th quarter. Resources Management Corp CT ADV now owns 24,602 shares of the financial services provider’s stock valued at $5,135,000 after acquiring an additional 21,056 shares in the last quarter. Finally, South Plains Financial Inc. boosted its holdings in shares of The PNC Financial Services Group by 2.2% during the 4th quarter. South Plains Financial Inc. now owns 4,734 shares of the financial services provider’s stock valued at $988,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president directly owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 3.2%

Shares of PNC opened at $230.01 on Tuesday. The company has a market capitalization of $92.36 billion, a PE ratio of 13.36, a PEG ratio of 0.99 and a beta of 0.92. The PNC Financial Services Group, Inc has a 12 month low of $172.88 and a 12 month high of $243.94. The stock’s 50-day moving average price is $221.21 and its two-hundred day moving average price is $216.56. 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 (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.51 EPS. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 3.0%. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PNC shares. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Jefferies Financial Group started coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective on the stock. Stephens started coverage on The PNC Financial Services Group in a report on Monday. They set an “overweight” rating and a $265.00 price objective on the stock. Barclays raised 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, Bank of America raised their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.72.

The PNC Financial Services Group Company Profile

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.