The PNC Financial Services Group, Inc $PNC Shares Sold by Hilltop Holdings Inc.

Hilltop Holdings Inc. trimmed its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 46.5% during the first quarter, Holdings Channel reports. The institutional investor owned 3,258 shares of the financial services provider’s stock after selling 2,832 shares during the quarter. Hilltop Holdings Inc.’s holdings in The PNC Financial Services Group were worth $678,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PNC. Monetary Solutions Ltd purchased a new position in The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Quarry LP purchased a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $29,000. Financial Life Planners acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC raised its holdings in shares of The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $250.59 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.84. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $256.49. The stock has a market cap of $100.63 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The firm has a fifty day moving average price of $236.91 and a 200 day moving average price of $224.94.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.66 billion for the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the company posted $3.85 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $2.00 per share. The ex-dividend date is Monday, July 20th. This represents a $8.00 dividend on an annualized basis and a yield of 3.2%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio (DPR) is 44.03%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup boosted their target price on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Morgan Stanley raised their price target on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on The PNC Financial Services Group from $238.00 to $264.50 and gave the stock an “overweight” rating in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 price objective for the company. in a research report on Thursday. Finally, Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.48.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director owned 10,749 shares of the company’s stock, 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 filing with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,300 shares of company stock valued at $10,694,574 over the last quarter. Company insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Company 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.