Strs Ohio Trims Position in The PNC Financial Services Group, Inc $PNC

Strs Ohio lessened its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 132,040 shares of the financial services provider’s stock after selling 3,606 shares during the quarter. Strs Ohio’s holdings in The PNC Financial Services Group were worth $27,561,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PNC. Quarry LP purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $25,000. Westfuller Advisors LLC purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $34,000. Beacon Financial Strategies CORP purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $35,000. JPL Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $37,000. Finally, Financial Life Planners purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.9%

NYSE:PNC opened at $220.92 on Friday. The business’s 50-day moving average is $213.91 and its two-hundred day moving average is $208.44. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a 12 month low of $163.11 and a 12 month high of $243.94. The firm has a market capitalization of $89.11 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate 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 company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period last year, the company posted $3.51 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PNC. Royal Bank Of Canada reissued an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Barclays increased their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Keefe, Bruyette & Woods increased their target price on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. TD Cowen increased their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.72.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Louis Robert Cestello sold 4,279 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the transaction, the executive vice president directly owned 18,867 shares of the company’s stock, valued at $4,415,066.67. This trade represents a 18.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total value of $1,710,868.86. Following the sale, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. This represents a 79.23% 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 64,186 shares of company stock valued at $14,840,973. 0.38% of the stock is owned by company insiders.

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.