Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 3,349 Shares of The PNC Financial Services Group, Inc $PNC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,218 shares of the financial services provider’s stock after selling 3,349 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in The PNC Financial Services Group were worth $19,040,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new position in shares of The PNC Financial Services Group in the third quarter valued at approximately $25,000. Beacon Financial Strategies CORP bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $35,000. Cornerstone Planning Group LLC lifted its holdings in shares of The PNC Financial Services Group by 2,100.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 176 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 168 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the third quarter valued at approximately $37,000. Finally, Financial Life Planners bought a new position in shares of The PNC Financial Services Group in the third quarter valued at approximately $39,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $221.36 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The company’s 50-day moving average is $216.27 and its 200 day moving average is $213.24. The PNC Financial Services Group, Inc has a fifty-two week low of $170.49 and a fifty-two week high of $243.94. The company has a market capitalization of $88.89 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the business posted $3.51 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 39.51%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on PNC shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. Morgan Stanley raised their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the company an “equal weight” rating in a research report on Thursday, April 16th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.