Mach 1 Financial Group LLC Has $1.22 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Mach 1 Financial Group LLC reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,893 shares of the financial services provider’s stock after selling 468 shares during the period. Mach 1 Financial Group LLC’s holdings in The PNC Financial Services Group were worth $1,222,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Rockline Wealth Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $1,825,000. KPP Advisory Services LLC acquired a new position in The PNC Financial Services Group in the third quarter valued at about $323,000. AQR Capital Management LLC boosted its position in The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after buying an additional 67,490 shares in the last quarter. Trust Point Inc. acquired a new position in The PNC Financial Services Group in the fourth quarter valued at about $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $295,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Evercore ISI dropped their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Jefferies Financial Group dropped their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Finally, HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $156.63.

The PNC Financial Services Group Stock Down 1.6 %

PNC traded down $2.52 during trading hours on Tuesday, hitting $153.26. 1,632,428 shares of the company’s stock were exchanged, compared to its average volume of 2,098,268. The stock has a market cap of $60.97 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.76 and a beta of 1.18. 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 stock’s 50-day moving average is $153.03 and its two-hundred day moving average is $144.00. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating 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 company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.98 earnings per share. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s payout ratio is presently 52.06%.

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.