The PNC Financial Services Group, Inc $PNC is Crawford Investment Counsel Inc.’s 9th Largest Position

Crawford Investment Counsel Inc. raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 19.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 603,176 shares of the financial services provider’s stock after buying an additional 99,322 shares during the quarter. The PNC Financial Services Group comprises about 2.1% of Crawford Investment Counsel Inc.’s investment portfolio, making the stock its 9th biggest holding. Crawford Investment Counsel Inc.’s holdings in The PNC Financial Services Group were worth $125,901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Cvfg LLC raised its stake in The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after buying an additional 43 shares during the last quarter. YANKCOM Partnership raised its stake in The PNC Financial Services Group by 1.8% during the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock valued at $539,000 after buying an additional 46 shares during the last quarter. Westfuller Advisors LLC raised its stake in The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock valued at $45,000 after buying an additional 46 shares during the last quarter. Flavin Financial Services Inc. raised its stake in The PNC Financial Services Group by 0.4% during the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock valued at $2,847,000 after buying an additional 48 shares during the last quarter. Finally, Almanack Investment Partners LLC. raised its stake in The PNC Financial Services Group by 2.2% during the fourth quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider’s stock valued at $490,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Citigroup lifted their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Morgan Stanley lifted their price objective on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research note on Thursday, April 16th. Bank of America lifted their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $246.72.

The PNC Financial Services Group Stock Up 1.8%

PNC stock opened at $234.71 on Wednesday. The PNC Financial Services Group, Inc has a 1-year low of $172.88 and a 1-year high of $243.94. The business has a fifty day moving average price of $221.67 and a 200-day moving average price of $216.86. 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 stock has a market capitalization of $94.25 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.96 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the business earned $3.51 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc will post 18.79 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The PNC Financial Services Group’s payout ratio is currently 39.51%.

Insider Transactions at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. This represents a 22.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,300 shares of company stock worth $10,694,574 over the last quarter. 0.38% of the stock is currently owned by insiders.

The PNC Financial Services Group 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.