Daymark Wealth Partners LLC Boosts Stock Position in The PNC Financial Services Group, Inc (NYSE:PNC)

Daymark Wealth Partners LLC grew its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 356.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,196 shares of the financial services provider's stock after purchasing an additional 44,660 shares during the quarter. Daymark Wealth Partners LLC's holdings in The PNC Financial Services Group were worth $10,053,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its stake in shares of The PNC Financial Services Group by 0.9% during the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock worth $1,288,000 after acquiring an additional 59 shares in the last quarter. True Wealth Design LLC boosted its stake in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 59 shares in the last quarter. Dynasty Wealth Management LLC grew its holdings in shares of The PNC Financial Services Group by 4.5% during the 4th quarter. Dynasty Wealth Management LLC now owns 1,477 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 64 shares during the last quarter. Metis Global Partners LLC raised its position in The PNC Financial Services Group by 0.4% in the 4th quarter. Metis Global Partners LLC now owns 18,585 shares of the financial services provider's stock worth $3,584,000 after purchasing an additional 67 shares during the period. Finally, Sandy Spring Bank lifted its stake in The PNC Financial Services Group by 1.4% in the fourth quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider's stock worth $945,000 after purchasing an additional 67 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $150.50, for a total value of $96,470.50. Following the sale, the chief executive officer now directly owns 562,291 shares of the company's stock, valued at $84,624,795.50. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,670 shares of company stock valued at $2,099,398. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 1.8%

NYSE:PNC traded up $3.30 during trading hours on Thursday, hitting $185.81. The company had a trading volume of 2,843,398 shares, compared to its average volume of 2,086,268. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick 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 company has a market capitalization of $73.50 billion, a PE ratio of 13.12, 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 - Get Free Report) last announced its 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 net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. On average, equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

Analyst Upgrades and Downgrades

PNC has been the subject of several analyst reports. TD Cowen began coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target for the company. The Goldman Sachs Group dropped their target price on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced 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. 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. Finally, Barclays cut their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average price target of $202.67.

The PNC Financial Services Group Company 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.