Daymark Wealth Partners LLC Sells 110 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Daymark Wealth Partners LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,536 shares of the financial services provider’s stock after selling 110 shares during the quarter. Daymark Wealth Partners LLC’s holdings in The PNC Financial Services Group were worth $2,418,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after buying an additional 532,871 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in The PNC Financial Services Group by 160.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after buying an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in The PNC Financial Services Group by 152.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after acquiring an additional 276,200 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of The PNC Financial Services Group by 88.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after acquiring an additional 274,186 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after acquiring an additional 254,356 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PNC. Stephens reissued an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Wells Fargo & Company increased their target price 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, Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC opened at $196.41 on Thursday. The stock’s 50-day moving average is $200.92 and its 200 day moving average is $188.02. The stock has a market cap of $77.93 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.61 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping 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 firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm posted $3.16 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the sale, the chief executive officer now directly owns 543,523 shares in the company, valued at $102,997,608.50. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,413 shares of company stock worth $6,014,241 over the last three months. Company insiders own 0.42% of the company’s stock.

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.