Signet Financial Management LLC Reduces Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Signet Financial Management LLC decreased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,011 shares of the financial services provider’s stock after selling 273 shares during the quarter. Signet Financial Management LLC’s holdings in The PNC Financial Services Group were worth $774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Loomis Sayles & Co. L P raised its position in The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 50 shares during the last quarter. MFA Wealth Advisors LLC raised its stake in The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 55 shares during the period. Resonant Capital Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after purchasing an additional 56 shares in the last quarter. Altman Advisors Inc. increased its holdings in The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after purchasing an additional 56 shares in the last quarter. Finally, Valley Brook Capital Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.5% during the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PNC. Stephens upped their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $203.29.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $190.57, for a total transaction of $236,687.94. Following the sale, the chief executive officer now directly owns 546,007 shares of the company’s stock, valued at $104,052,553.99. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,272 shares of company stock worth $6,164,890 in the last three months. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded up $3.64 during midday trading on Monday, reaching $192.66. The company’s stock had a trading volume of 1,855,554 shares, compared to its average volume of 2,032,036. The business’s 50 day moving average price is $201.47 and its two-hundred day moving average price is $186.01. The company has a market cap of $76.44 billion, a P/E ratio of 16.29, a P/E/G ratio of 2.11 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.60 EPS. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

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.