Crossmark Global Holdings Inc. Has $9.97 Million Stake in The PNC Financial Services Group, Inc $PNC

Crossmark Global Holdings Inc. decreased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,758 shares of the financial services provider’s stock after selling 3,689 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in The PNC Financial Services Group were worth $9,969,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $25,000. Beacon Financial Strategies CORP acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $35,000. Westfuller Advisors LLC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $34,000. Cornerstone Planning Group LLC boosted its holdings in shares of The PNC Financial Services Group by 2,100.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 168 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Richard Kevin Bynum sold 7,407 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares of the company’s stock, valued at $448,563.16. The trade was a 79.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Louis Robert Cestello sold 4,279 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $234.01, for a total value of $1,001,328.79. Following the completion of the transaction, the executive vice president directly owned 18,867 shares in the company, valued at $4,415,066.67. This represents a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 64,186 shares of company stock valued at $14,840,973 over the last 90 days. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on PNC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. TD Cowen lifted their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Finally, Morgan Stanley lifted their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Stock Down 1.2%

Shares of NYSE:PNC opened at $216.66 on Friday. The company has a market capitalization of $87.00 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The business’s 50-day moving average is $213.76 and its 200-day moving average is $209.44. The PNC Financial Services Group, Inc has a 1 year low of $166.02 and a 1 year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.51 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s payout ratio is currently 39.51%.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.