Elyxium Wealth LLC Purchases New Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Elyxium Wealth LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,644 shares of the financial services provider's stock, valued at approximately $289,000.

Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings 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 valued at $1,288,000 after acquiring an additional 59 shares during the period. True Wealth Design LLC boosted 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 valued at $39,000 after acquiring an additional 59 shares during the period. Cornerstone Planning Group LLC boosted its holdings in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares during the period. KCM Investment Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 3.9% during the fourth quarter. KCM Investment Advisors LLC now owns 1,828 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 68 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of The PNC Financial Services Group by 2.2% during the first quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock valued at $573,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Analysts Set New Price Targets

PNC has been the subject of several research analyst reports. Bank of America upped their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a report on Thursday. TD Cowen began coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price target for the company from $206.00 to $202.00 in a report on Monday, March 31st. Finally, Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their price target for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average price target of $212.76.

Insiders Place Their Bets

In other news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the transaction, the director directly owned 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders sold 8,904 shares of company stock valued at $1,493,609 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $196.54 on Monday. The company has a market capitalization of $77.75 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.45 and a beta of 1.07. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.80 and a quick ratio of 0.80. The business's 50-day moving average is $182.39 and its 200-day moving average is $180.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the company posted $3.39 earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal 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 dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a yield of 3.46%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

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.

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