Louisiana State Employees Retirement System Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Louisiana State Employees Retirement System bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 24,100 shares of the financial services provider’s stock, valued at approximately $3,732,000.

Several other hedge funds have also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new stake in The PNC Financial Services Group during the third quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group in the fourth quarter worth $26,000. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its position in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Finally, Wells Fargo & Company lifted 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 research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $157.10.

Insider Buying and Selling

In other news, EVP Michael J. Hannon sold 3,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the transaction, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Down 2.2 %

The PNC Financial Services Group stock opened at $150.63 on Monday. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The stock has a market cap of $59.92 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day moving average of $151.80 and a two-hundred day moving average of $141.29.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $1.04. The firm had revenue of $5.36 billion for the quarter, compared to analyst estimates of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.49 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s payout ratio is presently 48.48%.

About The PNC Financial Services Group

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.