The PNC Financial Services Group, Inc (NYSE:PNC) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 37.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,101 shares of the financial services provider's stock after buying an additional 13,362 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in The PNC Financial Services Group were worth $8,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PNC. Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth approximately $35,000. REAP Financial Group LLC grew 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 worth $38,000 after buying an additional 80 shares in the last quarter. Hoey Investments Inc. acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $39,000. Finally, True Wealth Design LLC grew its position 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 buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC stock opened at $196.35 on Tuesday. The company has a market capitalization of $77.67 billion, a P/E ratio of 13.87, a PEG ratio of 1.66 and a beta of 1.07. The company has a 50-day simple moving average of $176.56 and a 200 day simple moving average of $179.94. 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 quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.08.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. Sell-side 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 Increases Dividend

The firm also recently declared 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 of this dividend is Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.46%. The PNC Financial Services Group's payout ratio is 45.20%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the company's stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares in the company, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the sale, the executive vice president owned 20,490 shares in the company, valued at approximately $3,576,734.40. This trade represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,787 shares of company stock worth $1,782,794. 0.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on PNC shares. TD Cowen started 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. Wells Fargo & Company decreased their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Royal Bank Of Canada decreased their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Finally, JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and a consensus price target of $206.35.

The PNC Financial Services Group 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.

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