Hsbc Holdings PLC Decreases Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Hsbc Holdings PLC trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,267,411 shares of the financial services provider’s stock after selling 15,786 shares during the period. Hsbc Holdings PLC owned about 0.32% of The PNC Financial Services Group worth $244,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Winch Advisory Services LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. raised its holdings in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock opened at $150.19 on Tuesday. The business’s 50-day moving average price is $172.72 and its 200-day moving average price is $189.01. The firm has a market capitalization of $59.44 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.26%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 45.20%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PNC shares. Keefe, Bruyette & Woods cut their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley reduced their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Finally, Citigroup lowered their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $200.88.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the sale, the chief executive officer now owns 522,587 shares of the company’s stock, valued at $105,620,058.57. This represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 11,819 shares of company stock valued at $2,127,508. 0.41% of the stock is currently owned by company insiders.

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.