The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Decreased by Summit Trail Advisors LLC

Summit Trail Advisors LLC decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 7.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,130 shares of the financial services provider’s stock after selling 172 shares during the quarter. Summit Trail Advisors LLC’s holdings in The PNC Financial Services Group were worth $330,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PNC. Connecticut Wealth Management LLC increased its stake in shares of The PNC Financial Services Group by 2.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,372 shares of the financial services provider’s stock worth $522,000 after purchasing an additional 84 shares during the last quarter. FourThought Financial Partners LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $217,000. AJOVista LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth about $228,000. Legacy Financial Advisors Inc. boosted its stake in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Legacy Financial Advisors Inc. now owns 15,328 shares of the financial services provider’s stock worth $2,373,000 after acquiring an additional 272 shares in the last quarter. Finally, Sapient Capital LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $227,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PNC shares. JPMorgan Chase & Co. decreased their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. HSBC upgraded shares of 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. Jefferies Financial Group dropped their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock 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 company a “neutral” rating in a report on Monday, April 1st. Finally, Bank of America increased their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $157.02.

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 transaction, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $156.15 on Wednesday. The firm has a market capitalization of $62.12 billion, a PE ratio of 13.11, a PEG ratio of 1.77 and a beta of 1.16. 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 company’s 50-day moving average is $154.02 and its 200-day moving average is $145.39. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week 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, topping 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 firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the business posted $3.98 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.97%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

The PNC Financial Services Group Company 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.