Signature Financial Management Inc. Sells 770 Shares of PNC Financial Services Group Inc (PNC)

Signature Financial Management Inc. cut its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 19.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,100 shares of the financial services provider’s stock after selling 770 shares during the quarter. Signature Financial Management Inc.’s holdings in PNC Financial Services Group were worth $447,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its stake in PNC Financial Services Group by 21.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,762,394 shares of the financial services provider’s stock valued at $507,045,000 after purchasing an additional 657,161 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in PNC Financial Services Group by 67.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,041,462 shares of the financial services provider’s stock valued at $140,358,000 after purchasing an additional 420,938 shares during the last quarter. BlackRock Inc. raised its stake in PNC Financial Services Group by 1.5% in the 4th quarter. BlackRock Inc. now owns 28,181,864 shares of the financial services provider’s stock valued at $4,066,361,000 after purchasing an additional 402,904 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in PNC Financial Services Group by 539.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 423,671 shares of the financial services provider’s stock valued at $61,131,000 after purchasing an additional 357,466 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in PNC Financial Services Group by 114.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 660,136 shares of the financial services provider’s stock valued at $95,251,000 after purchasing an additional 352,636 shares during the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.

PNC has been the subject of several analyst reports. ValuEngine downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 target price for the company in a research note on Tuesday, December 26th. Barclays boosted their target price on shares of PNC Financial Services Group from $139.00 to $168.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada boosted their target price on shares of PNC Financial Services Group to $170.00 and gave the company an “average” rating in a research note on Friday, January 12th. Finally, Goldman Sachs Group downgraded shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Eighteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $145.98.

In related news, insider Robert Q. Reilly sold 19,576 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the completion of the sale, the insider now owns 103,299 shares of the company’s stock, valued at approximately $15,031,037.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Hannon sold 8,011 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the sale, the insider now directly owns 58,820 shares of the company’s stock, valued at approximately $9,070,044. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,894 shares of company stock valued at $14,897,513. Corporate insiders own 0.43% of the company’s stock.

Shares of PNC Financial Services Group Inc (NYSE PNC) opened at $159.08 on Monday. The stock has a market cap of $75,244.84, a P/E ratio of 18.69, a P/E/G ratio of 1.48 and a beta of 0.93. PNC Financial Services Group Inc has a 1 year low of $115.25 and a 1 year high of $160.81. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.24.

PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. analysts expect that PNC Financial Services Group Inc will post 10.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Wednesday, January 17th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 28.85%.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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