Strs Ohio Has $19.94 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Strs Ohio lifted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,776 shares of the financial services provider’s stock after acquiring an additional 17,579 shares during the quarter. Strs Ohio’s holdings in The PNC Financial Services Group were worth $19,940,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PNC. 1832 Asset Management L.P. grew its stake in shares of The PNC Financial Services Group by 33.5% in the 1st quarter. 1832 Asset Management L.P. now owns 267 shares of the financial services provider’s stock valued at $49,000 after buying an additional 67 shares during the period. Bangor Savings Bank boosted its stake in The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 69 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in The PNC Financial Services Group by 7.1% during the 1st quarter. KCM Investment Advisors LLC now owns 1,194 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 79 shares during the last quarter. Caprock Group LLC boosted its stake in The PNC Financial Services Group by 0.9% during the 4th quarter. Caprock Group LLC now owns 8,574 shares of the financial services provider’s stock valued at $1,328,000 after purchasing an additional 79 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT boosted its stake in The PNC Financial Services Group by 2.3% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 3,645 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PNC. Evercore ISI lifted their price target on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Morgan Stanley boosted their target price on 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. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. UBS Group boosted their target price on 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. Finally, The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $157.10.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s 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 owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 2.0 %

Shares of PNC stock opened at $146.59 on Wednesday. The company’s fifty day simple moving average is $151.82 and its two-hundred day simple moving average is $141.64. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The stock has a market capitalization of $58.31 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.05 by $0.05. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm posted $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 4.23%. The PNC Financial Services Group’s payout ratio is 48.48%.

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.