SVB Wealth LLC Has $1.52 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

SVB Wealth LLC reduced its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 24.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,791 shares of the financial services provider’s stock after selling 3,223 shares during the quarter. SVB Wealth LLC’s holdings in The PNC Financial Services Group were worth $1,516,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Rockline Wealth Management LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $1,825,000. KPP Advisory Services LLC acquired a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $323,000. AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after buying an additional 67,490 shares during the period. Trust Point Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $295,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $147.82 on Friday. The firm has a market cap of $58.80 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The stock has a fifty day simple moving average of $151.80 and a two-hundred day simple moving average of $141.72. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNC shares. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Jefferies Financial Group lowered their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $156.63.

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.