New York State Common Retirement Fund lessened its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 750,628 shares of the financial services provider's stock after selling 45,254 shares during the quarter. New York State Common Retirement Fund owned 0.19% of The PNC Financial Services Group worth $116,235,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PNC. Steph & Co. lifted its holdings in The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider's stock valued at $576,000 after acquiring an additional 67 shares during the last quarter. Bangor Savings Bank lifted its holdings in The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider's stock valued at $888,000 after acquiring an additional 69 shares during the last quarter. Oakworth Capital Inc. lifted its holdings in The PNC Financial Services Group by 11.7% in the fourth quarter. Oakworth Capital Inc. now owns 715 shares of the financial services provider's stock valued at $111,000 after acquiring an additional 75 shares during the last quarter. Caprock Group LLC lifted its holdings in The PNC Financial Services Group by 0.9% in the fourth quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider's stock valued at $1,328,000 after acquiring an additional 79 shares during the last quarter. Finally, Legacy Advisors LLC lifted its holdings in The PNC Financial Services Group by 0.8% in the third quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider's stock valued at $1,338,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.
Insider Activity at The PNC Financial Services Group
In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by insiders.
The PNC Financial Services Group Stock Performance
NYSE:PNC traded up $1.68 during mid-day trading on Tuesday, reaching $157.61. The stock had a trading volume of 2,137,039 shares, compared to its average volume of 2,148,747. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $62.70 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.72 and a beta of 1.18. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The business has a 50 day simple moving average of $152.03 and a 200 day simple moving average of $142.51.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm's revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.98 earnings per share. On average, analysts expect that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be given a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.93%. The PNC Financial Services Group's payout ratio is currently 52.06%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PNC. StockNews.com upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Thursday, April 18th. UBS Group raised their price objective on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a "neutral" rating in a report on Thursday, January 18th. Jefferies Financial Group dropped their price objective on The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating on the stock in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an "underweight" rating in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $156.63.
View Our Latest Stock Analysis on The PNC Financial Services Group
About The PNC Financial Services Group
(
Free Report)
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.
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