9,600 The PNC Financial Services Group, Inc $PNC Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 205,200 shares of the financial services provider’s stock after selling 9,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.05% of The PNC Financial Services Group worth $45,608,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Highland Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $28,000. Archer Investment Corp purchased a new position in The PNC Financial Services Group during the second quarter valued at approximately $33,000. Wilkerson Advisory Group LLC increased its holdings in The PNC Financial Services Group by 93.4% during the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after buying an additional 71 shares during the period. Finally, Dunhill Financial LLC bought a new position in The PNC Financial Services Group in the second quarter worth approximately $37,000. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.7%

Shares of The PNC Financial Services Group stock opened at $227.88 on Friday. The firm’s 50 day moving average price is $230.03 and its 200-day moving average price is $228.88. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.23. The PNC Financial Services Group, Inc has a 52-week low of $177.08 and a 52-week high of $258.96. The company has a market cap of $90.91 billion, a P/E ratio of 12.13, a PEG ratio of 1.20 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, beating analysts’ consensus estimates of $4.91 by $0.18. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The PNC Financial Services Group’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.35 earnings per share. On average, sell-side analysts predict that The PNC Financial Services Group, Inc will post 19.22 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is presently 42.58%.

Insider Activity at The PNC Financial Services Group

In other news, EVP Stacy Juchno sold 3,354 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. This represents a 15.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Jefferies Financial Group lowered their target price on The PNC Financial Services Group from $305.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Wolfe Research initiated coverage on The PNC Financial Services Group in a report on Tuesday. They issued a “peer perform” rating on the stock. Robert W. Baird boosted their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. upped their price objective on The PNC Financial Services Group from $258.00 to $259.00 and gave the stock an “overweight” rating in a research note on Friday. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average target price of $266.17.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.