The PNC Financial Services Group, Inc. (NYSE:PNC) Position Reduced by Hi Line Capital Management LLC

Hi Line Capital Management LLC lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,308 shares of the financial services provider’s stock after selling 3,604 shares during the period. The PNC Financial Services Group comprises approximately 2.2% of Hi Line Capital Management LLC’s portfolio, making the stock its 17th biggest position. Hi Line Capital Management LLC’s holdings in The PNC Financial Services Group were worth $5,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PNC. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC grew its stake in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $28,000. Finally, Criterion Capital Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Evercore ISI cut their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $157.02.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $155.63 on Thursday. The stock has a market capitalization of $61.91 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 1.77 and a beta of 1.16. The firm’s 50-day moving average price is $154.02 and its two-hundred day moving average price is $145.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm posted $3.98 EPS. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.64 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insiders Place Their Bets

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

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.