Calton & Associates Inc. Raises Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Calton & Associates Inc. grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 290.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,059 shares of the financial services provider's stock after purchasing an additional 10,459 shares during the period. Calton & Associates Inc.'s holdings in The PNC Financial Services Group were worth $2,471,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its holdings in The PNC Financial Services Group by 0.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock valued at $1,288,000 after acquiring an additional 59 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of The PNC Financial Services Group by 41.5% during the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after purchasing an additional 59 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 65 shares in the last quarter. Sandy Spring Bank boosted its stake in shares of The PNC Financial Services Group by 1.4% during the 4th quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider's stock worth $945,000 after acquiring an additional 67 shares in the last quarter. Finally, KCM Investment Advisors LLC raised its position in shares of The PNC Financial Services Group by 3.9% during the 4th quarter. KCM Investment Advisors LLC now owns 1,828 shares of the financial services provider's stock worth $353,000 after purchasing an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.41 during mid-day trading on Monday, hitting $196.11. 887,696 shares of the company's stock were exchanged, compared to its average volume of 2,140,780. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. The stock's 50-day simple moving average is $182.39 and its 200-day simple moving average is $180.13. The firm has a market cap of $77.57 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the business earned $3.39 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. On average, equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be given a $1.70 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.47%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.51%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president owned 20,490 shares in the company, valued at $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer owned 554,879 shares in the company, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,904 shares of company stock worth $1,493,609 over the last quarter. Corporate insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PNC. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Barclays reduced their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Truist Financial increased their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, The PNC Financial Services Group presently has an average rating of "Moderate Buy" and an average target price of $212.76.

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.