Public Employees Retirement System of Ohio Has $32.72 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Public Employees Retirement System of Ohio reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 169,659 shares of the financial services provider's stock after selling 7,434 shares during the quarter. Public Employees Retirement System of Ohio's holdings in The PNC Financial Services Group were worth $32,719,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. lifted its holdings in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Rialto Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. Whipplewood Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $33,000. Finally, Financial Life Planners acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $37,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 1.3%

PNC stock traded down $2.22 during mid-day trading on Wednesday, reaching $174.02. The company's stock had a trading volume of 1,591,515 shares, compared to its average volume of 2,051,646. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. 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 business's 50 day moving average price is $165.14 and its 200 day moving average price is $185.22. The company has a market cap of $68.84 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

Insider Transactions at The PNC Financial Services Group

In related news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $178.83, for a total value of $222,106.86. Following the sale, the chief executive officer now owns 568,541 shares of the company's stock, valued at approximately $101,672,187.03. This represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,638 shares of company stock valued at $2,983,901 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Citigroup lowered 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 note on Monday, March 24th. Barclays cut their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada decreased their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Finally, TD Cowen started coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.67.

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.