Hi Line Capital Management LLC Sells 3,604 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Hi Line Capital Management LLC lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 37,308 shares of the financial services provider’s stock after selling 3,604 shares during the quarter. The PNC Financial Services Group accounts for 2.2% of Hi Line Capital Management LLC’s holdings, making the stock its 17th biggest holding. Hi Line Capital Management LLC’s holdings in The PNC Financial Services Group were worth $5,777,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PNC. RMR Wealth Builders grew its stake in shares of The PNC Financial Services Group by 1.2% during the fourth quarter. RMR Wealth Builders now owns 6,561 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 79 shares during the last quarter. Everpar Advisors LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $1,097,000. Gryphon Financial Partners LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $228,000. Barlow Wealth Partners Inc. purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $1,575,000. Finally, Patrick M Sweeney & Associates Inc. bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $355,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.0 %

Shares of PNC opened at $155.63 on Thursday. The stock has a fifty day simple moving average of $154.02 and a two-hundred day simple moving average of $145.39. 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 company has a market capitalization of $61.91 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm earned $3.98 earnings per share. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared 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 3.98%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the company’s 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 transaction, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on 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 sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on PNC shares. Evercore ISI lowered their price target 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. 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 report on Wednesday, April 17th. StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. JPMorgan Chase & Co. reduced 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 note on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $157.02.

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.