Maryland State Retirement & Pension System Has $4.15 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Maryland State Retirement & Pension System lessened its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,506 shares of the financial services provider’s stock after selling 1,186 shares during the period. Maryland State Retirement & Pension System’s holdings in The PNC Financial Services Group were worth $4,147,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in The PNC Financial Services Group by 1.0% during the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after buying an additional 22,271 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of The PNC Financial Services Group by 12.7% in the third quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider’s stock valued at $6,857,000 after purchasing an additional 4,186 shares during the last quarter. Pathstone Holdings LLC lifted its position in shares of The PNC Financial Services Group by 2.2% during the third quarter. Pathstone Holdings LLC now owns 68,125 shares of the financial services provider’s stock valued at $12,593,000 after purchasing an additional 1,471 shares in the last quarter. Caprock Group LLC grew its position in The PNC Financial Services Group by 1.1% in the 3rd quarter. Caprock Group LLC now owns 19,809 shares of the financial services provider’s stock worth $3,662,000 after purchasing an additional 219 shares in the last quarter. Finally, Premier Fund Managers Ltd bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $6,541,000. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the sale, the chief executive officer now owns 522,587 shares in the company, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 13,662 shares of company stock worth $2,604,263 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PNC has been the subject of several recent analyst reports. Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Stephens reissued an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Finally, Citigroup boosted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $203.71.

The PNC Financial Services Group Trading Up 0.3 %

Shares of PNC opened at $173.86 on Thursday. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock has a market cap of $68.81 billion, a PE ratio of 12.64, a P/E/G ratio of 1.55 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business’s 50-day moving average price is $190.77 and its 200-day moving average price is $192.43.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.68%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

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.