California Public Employees Retirement System Sells 25,141 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

California Public Employees Retirement System reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 730,537 shares of the financial services provider's stock after selling 25,141 shares during the period. California Public Employees Retirement System owned approximately 0.18% of The PNC Financial Services Group worth $113,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in shares of The PNC Financial Services Group in the 3rd quarter worth $25,000. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $26,000. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $26,000. Fortitude Family Office LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PNC. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. UBS Group boosted their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a "neutral" rating in a research note on Thursday, January 18th. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 17th. Jefferies Financial Group reduced their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a "hold" rating for the company in a research note on Wednesday, April 17th. Finally, Evercore ISI reduced their price objective on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an "outperform" rating for the company in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $156.63.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded up $0.45 during trading hours on Wednesday, hitting $158.06. The company's stock had a trading volume of 1,320,807 shares, compared to its average volume of 2,138,266. The company has a 50 day moving average of $152.28 and a 200 day moving average of $142.77. The stock has a market cap of $62.88 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 1.76 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm earned $3.98 EPS. The business's revenue for the quarter was down 8.2% on a year-over-year basis. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 52.06%.

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 36,570 shares of the company's stock, valued at $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.