Daymark Wealth Partners LLC Purchases 44,660 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Daymark Wealth Partners LLC increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 356.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,196 shares of the financial services provider's stock after acquiring 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 filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toth Financial Advisory Corp increased its holdings in shares of The PNC Financial Services Group by 89.6% during the first quarter. Toth Financial Advisory Corp now owns 635 shares of the financial services provider's stock worth $112,000 after purchasing an additional 300 shares during the period. Wesbanco Bank Inc. increased its stake in The PNC Financial Services Group by 0.4% during the 1st quarter. Wesbanco Bank Inc. now owns 58,965 shares of the financial services provider's stock worth $10,364,000 after acquiring an additional 226 shares during the period. Kennebec Savings Bank increased its stake in The PNC Financial Services Group by 3.5% during the 1st quarter. Kennebec Savings Bank now owns 3,178 shares of the financial services provider's stock worth $559,000 after acquiring an additional 106 shares during the period. Miracle Mile Advisors LLC raised its holdings in The PNC Financial Services Group by 40.0% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,627 shares of the financial services provider's stock valued at $638,000 after acquiring an additional 1,037 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of The PNC Financial Services Group by 0.6% during the 1st quarter. UMB Bank n.a. now owns 14,895 shares of the financial services provider's stock valued at $2,618,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $171.15, for a total value of $212,568.30. Following the sale, the chief executive officer now owns 567,299 shares of the company's stock, valued at $97,093,223.85. The trade was a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the business's stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, 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 position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 15,154 shares of company stock worth $2,525,591. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PNC. Wells Fargo & Company decreased their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Barclays decreased 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. Truist Financial cut their price target on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Morgan Stanley reduced their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Price Performance

PNC stock traded down $0.04 during midday trading on Thursday, reaching $177.70. 1,647,406 shares of the stock were exchanged, compared to its average volume of 2,054,024. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a fifty day moving average price of $166.06 and a 200 day moving average price of $182.98. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $70.29 billion, a PE ratio of 12.92, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, analysts expect 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 firm 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. This represents a $6.40 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 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.