Illinois Municipal Retirement Fund Sells 24,511 Shares of The PNC Financial Services Group, Inc $PNC

Illinois Municipal Retirement Fund lowered its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 59.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,851 shares of the financial services provider’s stock after selling 24,511 shares during the period. Illinois Municipal Retirement Fund’s holdings in The PNC Financial Services Group were worth $3,141,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC boosted its position in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares in the last quarter. CWM LLC lifted its stake in shares of The PNC Financial Services Group by 50.4% in the 1st quarter. CWM LLC now owns 23,676 shares of the financial services provider’s stock valued at $4,162,000 after acquiring an additional 7,931 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of The PNC Financial Services Group by 1.2% during the 1st quarter. Signaturefd LLC now owns 7,189 shares of the financial services provider’s stock valued at $1,264,000 after acquiring an additional 82 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $607,000. Finally, Larson Financial Group LLC grew its position in The PNC Financial Services Group by 8.1% during the 1st quarter. Larson Financial Group LLC now owns 16,198 shares of the financial services provider’s stock worth $2,847,000 after acquiring an additional 1,212 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 1.1%

Shares of NYSE PNC opened at $186.83 on Thursday. The company’s 50 day moving average price is $192.57 and its 200-day moving average price is $187.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a market capitalization of $73.26 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the company posted $3.49 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.93%.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. The trade was a 14.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,151 shares of company stock valued at $400,092. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PNC shares. Stephens restated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Piper Sandler upgraded shares of The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $211.00 to $220.00 in a report on Thursday, October 9th. Finally, Citigroup boosted their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.47.

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.