Rockefeller Capital Management L.P. Has $45.40 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Rockefeller Capital Management L.P. grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 48.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 217,518 shares of the financial services provider’s stock after buying an additional 71,433 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in The PNC Financial Services Group were worth $45,403,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PNC. World Investment Advisors lifted its stake in shares of The PNC Financial Services Group by 123.5% in the 4th quarter. World Investment Advisors now owns 10,984 shares of the financial services provider’s stock valued at $2,293,000 after acquiring an additional 6,069 shares during the last quarter. Nalls Sherbakoff Group LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $46,000. Larry Mathis Financial Planning LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth $396,000. Advisortrust Partners LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth $5,018,000. Finally, Corient Private Wealth LLC increased its holdings in The PNC Financial Services Group by 8.5% in the 4th quarter. Corient Private Wealth LLC now owns 268,809 shares of the financial services provider’s stock worth $56,117,000 after purchasing an additional 21,061 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

PNC stock opened at $232.39 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The firm has a market cap of $93.32 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.95 and a beta of 0.92. The company’s fifty day simple moving average is $222.68 and its 200 day simple moving average is $217.55. The PNC Financial Services Group, Inc has a 12-month low of $176.16 and a 12-month high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share 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 the consensus estimate of $6.21 billion. During the same period last year, the business posted $3.51 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid 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 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Analysts Set New Price Targets

Several research firms have commented on PNC. Bank of America lifted their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Truist Financial increased their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. raised their price objective 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. Oppenheimer lifted their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Finally, Citigroup upped their target price on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.72.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on 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 sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,300 shares of company stock valued at $10,694,574 over the last 90 days. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group 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.