Mach 1 Financial Group LLC Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mach 1 Financial Group LLC trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,893 shares of the financial services provider’s stock after selling 468 shares during the period. Mach 1 Financial Group LLC’s holdings in The PNC Financial Services Group were worth $1,222,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PNC. Steph & Co. boosted its holdings in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 67 shares during the period. Bangor Savings Bank boosted its holdings in shares of The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 69 shares during the period. Oakworth Capital Inc. boosted its holdings in shares of The PNC Financial Services Group by 11.7% in the 4th quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 75 shares during the period. Caprock Group LLC boosted its holdings in shares of The PNC Financial Services Group by 0.9% in the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock worth $1,328,000 after purchasing an additional 79 shares during the period. Finally, Legacy Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 0.8% in the 3rd quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after purchasing an additional 84 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on PNC. Evercore ISI dropped their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. StockNews.com lowered The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday. UBS Group raised their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Finally, Morgan Stanley raised their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $156.63.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock traded down $2.52 during trading hours on Tuesday, hitting $153.26. 1,632,428 shares of the stock traded hands, compared to its average volume of 2,098,268. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50 day moving average price is $153.03 and its 200-day moving average price is $144.00. The stock has a market capitalization of $60.97 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.76 and a beta of 1.18. 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 issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The business 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 company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.98 EPS. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 12.65 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.05%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

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.