KG&L Capital Management LLC Has $1.19 Million Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

KG&L Capital Management LLC raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 100.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,750 shares of the financial services provider’s stock after purchasing an additional 3,390 shares during the period. KG&L Capital Management LLC’s holdings in The PNC Financial Services Group were worth $1,186,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $32,000. Whipplewood Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $33,000. Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $35,000. REAP Financial Group LLC increased its position in shares of The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, Hoey Investments Inc. acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Citigroup lowered their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Wells Fargo & Company decreased their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Truist Financial decreased their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods lowered their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total transaction of $96,160.00. Following the completion of the sale, the chief executive officer now directly owns 563,573 shares of the company’s stock, valued at approximately $90,171,680. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director now directly owns 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 12,670 shares of company stock worth $2,099,398 over the last three months. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $182.55 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $170.79 and a 200 day moving average price of $180.61. The stock has a market capitalization of $72.21 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.51%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

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.