Signet Financial Management LLC Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Signet Financial Management LLC lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

A number of other large investors have also modified their holdings of the business. Valley Wealth Managers Inc. lifted its stake in The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Quarry LP lifted its position in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in The PNC Financial Services Group during the third quarter worth $51,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in The PNC Financial Services Group by 231.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $70,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff sold 859 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the transaction, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. This represents a 27.29 % 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 90 days. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PNC shares. Compass Point increased their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Stephens upped their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Barclays raised their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their target price 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, Truist Financial initiated coverage on shares of The PNC Financial Services Group in a report on Tuesday, January 7th. They issued a “hold” rating and a $215.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $203.29.

The PNC Financial Services Group Stock Up 1.9 %

Shares of The PNC Financial Services Group stock traded up $3.64 during trading on Monday, hitting $192.66. 1,855,554 shares of the stock were exchanged, compared to its average volume of 2,032,036. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The stock has a market cap of $76.44 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average price is $201.47 and its 200 day moving average price is $186.01.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.60 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.32%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

About The PNC Financial Services Group

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.