Perigon Wealth Management LLC Buys 2,912 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Perigon Wealth Management LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 49.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,747 shares of the financial services provider’s stock after purchasing an additional 2,912 shares during the period. Perigon Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,719,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Buffington Mohr McNeal bought a new stake in The PNC Financial Services Group in the 4th quarter worth about $203,000. Nilsine Partners LLC increased its holdings in The PNC Financial Services Group by 6.7% in the 4th quarter. Nilsine Partners LLC now owns 2,358 shares of the financial services provider’s stock worth $455,000 after buying an additional 149 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in The PNC Financial Services Group by 12.8% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,742 shares of the financial services provider’s stock worth $336,000 after buying an additional 198 shares in the last quarter. Parsons Capital Management Inc. RI grew its stake in shares of The PNC Financial Services Group by 213.5% during the 4th quarter. Parsons Capital Management Inc. RI now owns 15,144 shares of the financial services provider’s stock valued at $2,921,000 after purchasing an additional 10,313 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 7.8% during the 4th quarter. Pacer Advisors Inc. now owns 31,762 shares of the financial services provider’s stock valued at $6,125,000 after purchasing an additional 2,296 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Citigroup boosted their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Barclays lifted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Up 0.3 %

NYSE PNC opened at $202.29 on Thursday. The stock’s 50 day moving average is $200.14 and its 200 day moving average is $189.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. 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 $80.26 billion, a PE ratio of 14.71, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the company posted $3.16 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $196.17, for a total transaction of $243,643.14. Following the transaction, the chief executive officer now owns 523,829 shares of the company’s stock, valued at approximately $102,759,534.93. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s 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 transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,413 shares of company stock valued at $6,021,569 in the last quarter. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group 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.