SteelPeak Wealth LLC Has $3.05 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

SteelPeak Wealth LLC trimmed its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 27.4% in the fourth quarter, Holdings Channel reports. The firm owned 15,808 shares of the financial services provider’s stock after selling 5,967 shares during the quarter. SteelPeak Wealth LLC’s holdings in The PNC Financial Services Group were worth $3,049,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. AXA S.A. raised its holdings in shares of The PNC Financial Services Group by 46.8% in the 2nd quarter. AXA S.A. now owns 12,125 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 3,865 shares during the period. AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 14.2% in the second quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock valued at $6,983,000 after buying an additional 5,640 shares during the period. Ascent Group LLC lifted its position in shares of The PNC Financial Services Group by 11.3% in the second quarter. Ascent Group LLC now owns 7,594 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 768 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 31.0% during the 2nd quarter. NewEdge Advisors LLC now owns 32,794 shares of the financial services provider’s stock worth $5,099,000 after acquiring an additional 7,765 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of The PNC Financial Services Group by 9.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 39,397 shares of the financial services provider’s stock worth $6,125,000 after acquiring an additional 3,240 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays lifted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup boosted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $205.00.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $196.17, for a total transaction of $243,643.14. Following the completion of the transaction, the chief executive officer now owns 523,829 shares of the company’s stock, valued at approximately $102,759,534.93. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,413 shares of company stock worth $6,021,569 over the last three months. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC opened at $201.70 on Wednesday. The firm has a market cap of $80.03 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The business’s fifty day moving average is $200.21 and its 200-day moving average is $189.03. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.16 earnings per share. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.17%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

About The PNC Financial Services Group

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.