Machina Capital S.A.S. Sells 15,175 Shares of The PNC Financial Services Group, Inc $PNC

Machina Capital S.A.S. lowered its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 57.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,376 shares of the financial services provider’s stock after selling 15,175 shares during the period. Machina Capital S.A.S.’s holdings in The PNC Financial Services Group were worth $2,286,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PNC. IMG Wealth Management Inc. purchased a new position in The PNC Financial Services Group during the second quarter valued at $27,000. Concord Wealth Partners increased its stake in shares of The PNC Financial Services Group by 144.9% in the 2nd quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Westfuller Advisors LLC purchased a new position in The PNC Financial Services Group during the 3rd quarter valued at about $34,000. FNY Investment Advisers LLC bought a new stake in The PNC Financial Services Group during the second quarter worth about $37,000. Finally, Bayforest Capital Ltd boosted its stake in The PNC Financial Services Group by 237.1% during the third quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 147 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Morgan Stanley increased their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 20th. Finally, UBS Group raised their price target on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.00.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $233.94 on Wednesday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $234.30. The stock has a 50-day moving average of $212.02 and a 200 day moving average of $199.66. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $91.74 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.95 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.77 earnings per share. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.