Redhawk Wealth Advisors Inc. Acquires 1,322 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Redhawk Wealth Advisors Inc. increased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 29.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,758 shares of the financial services provider’s stock after buying an additional 1,322 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in The PNC Financial Services Group were worth $1,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PNC. Transcend Capital Advisors LLC increased its holdings in The PNC Financial Services Group by 1.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 55 shares in the last quarter. Valmark Advisers Inc. increased its holdings in The PNC Financial Services Group by 1.4% in the 4th quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 56 shares in the last quarter. TFB Advisors LLC increased its holdings in The PNC Financial Services Group by 3.3% in the 4th quarter. TFB Advisors LLC now owns 1,799 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 58 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in The PNC Financial Services Group by 0.9% in the 4th quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 59 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 59 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now owns 567,299 shares in the company, valued at approximately $97,093,223.85. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff purchased 1,000 shares of the business’s stock in a transaction on Friday, April 25th. The stock was purchased at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director now owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 15,154 shares of company stock worth $2,525,591. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Down 0.9%

Shares of The PNC Financial Services Group stock opened at $177.77 on Thursday. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50-day moving average is $166.06 and its 200 day moving average is $182.98. The firm has a market cap of $70.32 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.60%. The PNC Financial Services Group’s payout ratio is currently 45.20%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their target price on 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. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a “buy” rating and a $233.00 target price for the company. Barclays decreased their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada decreased their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Finally, HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.67.

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.