The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,738 shares of the financial services provider’s stock after purchasing an additional 133 shares during the period. Hexagon Capital Partners LLC’s holdings in The PNC Financial Services Group were worth $281,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth $1,825,000. KPP Advisory Services LLC purchased a new position in The PNC Financial Services Group in the 3rd quarter worth about $323,000. AQR Capital Management LLC increased its stake in The PNC Financial Services Group by 144.2% in the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Trust Point Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at about $295,000. 83.53% of the stock is currently owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were 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 in the company, valued at $87,061,400.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The stock was 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 in the company, valued at $545,856.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,132 shares of company stock valued at $328,809. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

PNC stock opened at $156.14 on Tuesday. The firm has a 50 day moving average of $155.18 and a two-hundred day moving average of $152.96. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a market capitalization of $62.13 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 2.22 and a beta of 1.15. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

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, topping 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 net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.98 earnings per share. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders 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 dividend yield of 3.97%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PNC shares. Wells Fargo & Company boosted their price target on shares of 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 boosted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group raised their target price on 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. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $158.43.

About The PNC Financial Services Group

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.