Crossmark Global Holdings Inc. Lowers Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Crossmark Global Holdings Inc. trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 17.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,739 shares of the financial services provider’s stock after selling 7,665 shares during the period. Crossmark Global Holdings Inc.’s holdings in The PNC Financial Services Group were worth $6,892,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Valley Wealth Managers Inc. lifted its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $51,000. Quarry LP increased its holdings in shares of The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of The PNC Financial Services Group by 231.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the transaction, the chief executive officer now owns 543,523 shares in the company, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,171 shares of company stock valued at $5,768,325. 0.42% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial increased their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $198.59 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The firm has a market cap of $78.80 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.85 and a beta of 1.16. The business’s 50 day moving average price is $201.17 and its 200-day moving average price is $187.72.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.03 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

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.