Oregon Public Employees Retirement Fund Increases Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Oregon Public Employees Retirement Fund increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,155 shares of the financial services provider’s stock after acquiring an additional 101 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in The PNC Financial Services Group were worth $5,310,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth about $26,000. ORG Partners LLC lifted its position in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter worth approximately $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter worth approximately $29,000. Finally, Core Wealth Advisors Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $31,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $182.36 on Thursday. The firm has a 50-day simple moving average of $172.03 and a two-hundred day simple moving average of $160.19. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $185.84. The stock has a market cap of $72.49 billion, a PE ratio of 15.31, a P/E/G ratio of 2.05 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the company earned $3.36 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $177.02.

Insiders Place Their Bets

In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now owns 554,701 shares of the company’s stock, valued at approximately $101,604,582.17. The disclosure for this sale can be found here. Insiders have sold 25,263 shares of company stock worth $4,418,109 over the last three months. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Company 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.