Insigneo Advisory Services LLC Acquires 139 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Insigneo Advisory Services LLC raised its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,310 shares of the financial services provider’s stock after acquiring an additional 139 shares during the quarter. Insigneo Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Brighton Jones LLC raised its holdings in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 984 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of The PNC Financial Services Group by 69.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,440 shares of the financial services provider’s stock valued at $9,670,000 after purchasing an additional 20,621 shares in the last quarter. Principal Securities Inc. grew its position in shares of The PNC Financial Services Group by 26.8% during the fourth quarter. Principal Securities Inc. now owns 5,458 shares of the financial services provider’s stock valued at $1,053,000 after purchasing an additional 1,152 shares in the last quarter. Empower Advisory Group LLC grew its position in shares of The PNC Financial Services Group by 17.1% during the fourth quarter. Empower Advisory Group LLC now owns 1,466 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 214 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its position in shares of The PNC Financial Services Group by 6.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 29,938 shares of the financial services provider’s stock valued at $5,774,000 after purchasing an additional 1,933 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Up 1.1%

Shares of NYSE PNC opened at $175.09 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $69.26 billion, a P/E ratio of 12.37, a PEG ratio of 1.45 and a beta of 1.06. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm has a 50-day simple moving average of $168.12 and a two-hundred day simple moving average of $181.62.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.66%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is currently 45.20%.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was purchased at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director now owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total transaction of $96,160.00. Following the sale, the chief executive officer now directly owns 563,573 shares of the company’s stock, valued at $90,171,680. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,912 shares of company stock valued at $2,313,022 over the last 90 days. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PNC shares. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. TD Cowen started coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They set a “buy” rating and a $233.00 price objective for the company. Citigroup cut their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Wells Fargo & Company cut their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods cut their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

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.