Crumly & Associates Inc. Raises Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Crumly & Associates Inc. grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,022 shares of the financial services provider’s stock after purchasing an additional 91 shares during the period. Crumly & Associates Inc.’s holdings in The PNC Financial Services Group were worth $470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group during the second quarter worth about $26,000. ORG Partners LLC lifted its holdings in The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares in the last quarter. LRI Investments LLC purchased a new position in The PNC Financial Services Group in the 1st quarter valued at approximately $28,000. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the first quarter worth $29,000. Finally, Core Wealth Advisors Inc. purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $31,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $167.50, for a total value of $208,035.00. Following the sale, the chief executive officer now owns 563,395 shares of the company’s stock, valued at approximately $94,368,662.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,263 shares of company stock worth $4,418,109. 0.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PNC. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Finally, Barclays boosted their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $177.02.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $1.99 during trading on Thursday, reaching $180.37. The company’s stock had a trading volume of 279,580 shares, compared to its average volume of 1,876,698. The company has a 50-day moving average price of $172.03 and a two-hundred day moving average price of $160.19. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $185.84. The firm has a market cap of $71.70 billion, a PE ratio of 15.31, a P/E/G ratio of 2.05 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the business posted $3.36 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.55%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

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.