State of New Jersey Common Pension Fund D Has $29.34 Million Position in PNC Financial Services Group Inc (NYSE:PNC)

State of New Jersey Common Pension Fund D lowered its position in PNC Financial Services Group Inc (NYSE:PNC) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 266,978 shares of the financial services provider’s stock after selling 22,699 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of PNC Financial Services Group worth $29,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in PNC. AXA increased its position in PNC Financial Services Group by 7.5% during the 1st quarter. AXA now owns 306,517 shares of the financial services provider’s stock valued at $29,339,000 after purchasing an additional 21,438 shares during the period. Park National Corp OH increased its position in PNC Financial Services Group by 0.8% during the 2nd quarter. Park National Corp OH now owns 149,206 shares of the financial services provider’s stock valued at $15,698,000 after purchasing an additional 1,253 shares during the period. Ellevest Inc. increased its position in PNC Financial Services Group by 144.3% during the 2nd quarter. Ellevest Inc. now owns 750 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 443 shares during the period. West Oak Capital LLC increased its position in PNC Financial Services Group by 198.0% during the 2nd quarter. West Oak Capital LLC now owns 301 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Finally, Anderson Hoagland & Co. increased its position in PNC Financial Services Group by 0.9% during the 2nd quarter. Anderson Hoagland & Co. now owns 11,475 shares of the financial services provider’s stock valued at $1,207,000 after purchasing an additional 100 shares during the period. 79.48% of the stock is owned by institutional investors.

Shares of PNC opened at $109.82 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.79. The business’s fifty day moving average is $111.06 and its 200 day moving average is $107.92. PNC Financial Services Group Inc has a 12-month low of $79.41 and a 12-month high of $161.79. The stock has a market cap of $46.62 billion, a P/E ratio of 6.57, a P/E/G ratio of 3.17 and a beta of 1.24.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Monday, October 19th. The financial services provider reported $3.39 earnings per share for the quarter, beating the consensus estimate of $2.12 by $1.27. PNC Financial Services Group had a return on equity of 5.97% and a net margin of 38.16%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period last year, the business earned $2.94 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, analysts expect that PNC Financial Services Group Inc will post 5.41 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Friday, October 16th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 4.19%. The ex-dividend date is Thursday, October 15th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.39%.

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods downgraded shares of PNC Financial Services Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $130.00 to $127.00 in a research report on Wednesday, July 15th. Credit Suisse Group raised their price objective on shares of PNC Financial Services Group from $115.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 15th. Oppenheimer reaffirmed a “hold” rating on shares of PNC Financial Services Group in a research report on Wednesday, July 15th. Wolfe Research initiated coverage on shares of PNC Financial Services Group in a research report on Friday, July 31st. They set an “underperform” rating for the company. Finally, TheStreet raised shares of PNC Financial Services Group from a “c” rating to a “b-” rating in a research report on Wednesday, October 14th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $121.47.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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