The PNC Financial Services Group, Inc $PNC Position Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 9.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,598 shares of the financial services provider’s stock after acquiring an additional 5,128 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in The PNC Financial Services Group were worth $13,469,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Bahl & Gaynor LLC acquired a new position in The PNC Financial Services Group during the third quarter worth about $410,083,000. Northbridge Financial Group LLC purchased a new position in The PNC Financial Services Group in the third quarter valued at about $204,000. Moneco Advisors LLC increased its holdings in The PNC Financial Services Group by 28.9% in the third quarter. Moneco Advisors LLC now owns 15,752 shares of the financial services provider’s stock valued at $3,501,000 after buying an additional 3,531 shares in the last quarter. Keybank National Association OH lifted its position in shares of The PNC Financial Services Group by 1.1% during the 3rd quarter. Keybank National Association OH now owns 67,046 shares of the financial services provider’s stock valued at $14,902,000 after acquiring an additional 719 shares during the period. Finally, Csenge Advisory Group lifted its position in shares of The PNC Financial Services Group by 93.9% during the 3rd quarter. Csenge Advisory Group now owns 1,889 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 915 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.4%

Shares of NYSE PNC opened at $232.26 on Thursday. The firm’s 50-day moving average is $228.09 and its two-hundred day moving average is $229.34. The company has a market capitalization of $92.15 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.20 and a beta of 0.92. The PNC Financial Services Group, Inc has a 12-month low of $177.08 and a 12-month high of $258.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.84 and a quick ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period last year, the company posted $4.35 EPS. The company’s revenue was up 10.9% on a year-over-year basis. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 19.24 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $8.00 annualized dividend and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.58%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group lowered their price target on The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Deutsche Bank cut The PNC Financial Services Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $230.00 to $265.00 in a report on Thursday, July 23rd. Barclays boosted their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. upped their target price on The PNC Financial Services Group from $258.00 to $259.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Truist Financial dropped their price target on The PNC Financial Services Group from $252.00 to $248.00 and set a “hold” rating for the company in a research report on Monday, October 19th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.04.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.