Signet Financial Management LLC Buys Shares of 4,402 The PNC Financial Services Group, Inc. (NYSE:PNC)

Signet Financial Management LLC acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,402 shares of the financial services provider’s stock, valued at approximately $711,000.

A number of other institutional investors have also made changes to their positions in the business. BKM Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $28,000. Householder Group Estate & Retirement Specialist LLC raised its stake in shares of The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Finally, Core Wealth Advisors Inc. bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $31,000. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $151.93 on Friday. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The firm has a market capitalization of $60.45 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average of $155.04 and a 200-day moving average of $152.73.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $3.98 EPS. The firm’s revenue was down 8.2% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PNC. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group dropped their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Finally, Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $158.43.

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.