Signaturefd LLC Boosts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Signaturefd LLC increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,068 shares of the financial services provider’s stock after acquiring an additional 155 shares during the period. Signaturefd LLC’s holdings in The PNC Financial Services Group were worth $1,307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the second quarter worth $26,000. ORG Partners LLC raised its position in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the last quarter. LRI Investments LLC bought a new position in The PNC Financial Services Group during the 1st quarter valued at about $28,000. Palisade Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at about $29,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group in the second quarter worth approximately $33,000. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group upped their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $185.71.

Insiders Place Their Bets

In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares of the company’s stock, valued at $94,994,016.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,662 shares of company stock worth $4,459,819 in the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $188.21 on Thursday. The stock has a 50-day moving average price of $181.96 and a 200 day moving average price of $167.82. The stock has a market capitalization of $74.81 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $196.64. The company has a current ratio of 0.81, a quick ratio of 0.82 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates 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 company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.60 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.40%. The PNC Financial Services Group’s dividend payout ratio is currently 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.