Hexagon Capital Partners LLC Acquires 133 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Hexagon Capital Partners LLC grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.3% in the 1st quarter, Holdings Channel reports. The fund owned 1,738 shares of the financial services provider’s stock after purchasing an additional 133 shares during the quarter. Hexagon Capital Partners LLC’s holdings in The PNC Financial Services Group were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PNC. Steph & Co. raised its holdings in The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares during the period. Bangor Savings Bank boosted its stake in The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 69 shares during the period. Triangle Securities Wealth Management increased its holdings in The PNC Financial Services Group by 1.8% during the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares in the last quarter. Cooper Financial Group raised its stake in shares of The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 70 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 1.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Evercore ISI raised their price target on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. Finally, Bank of America upped their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $158.43.

Insider Activity

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,132 shares of company stock valued at $328,809. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $156.14 on Tuesday. The firm’s fifty day moving average price is $155.18 and its two-hundred day moving average price is $152.96. 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 has a market cap of $62.13 billion, a P/E ratio of 13.11, a P/E/G ratio of 2.22 and a beta of 1.15. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year 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 analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.98 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

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. This represents a $6.20 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is 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.