Hengehold Capital Management LLC Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Hengehold Capital Management LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% during the first quarter, Holdings Channel reports. The firm owned 2,195 shares of the financial services provider’s stock after selling 160 shares during the quarter. Hengehold Capital Management LLC’s holdings in The PNC Financial Services Group were worth $355,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group during the 4th quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the period. Fortitude Family Office LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $28,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC traded up $2.49 during midday trading on Friday, hitting $154.42. 816,831 shares of the company traded hands, compared to its average volume of 1,884,715. The firm has a 50 day moving average of $155.04 and a 200-day moving average of $152.73. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The stock has a market cap of $61.45 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 2.17 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The business’s revenue was down 8.2% on a year-over-year basis. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

Analyst Ratings Changes

A number of research analysts have weighed in on PNC shares. Jefferies Financial Group reduced their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Bank of America upped their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group upped their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.43.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

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.