Public Sector Pension Investment Board Has $33.82 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Public Sector Pension Investment Board increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.3% during the second quarter, HoldingsChannel reports. The firm owned 217,509 shares of the financial services provider’s stock after acquiring an additional 4,880 shares during the period. Public Sector Pension Investment Board’s holdings in The PNC Financial Services Group were worth $33,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group in the second quarter worth approximately $26,000. ORG Partners LLC boosted its position in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the period. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter valued at $29,000. Finally, Core Wealth Advisors Inc. purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Evercore ISI boosted their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Citigroup raised their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Barclays boosted their price target on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $176.90.

The PNC Financial Services Group Stock Down 0.4 %

Shares of PNC opened at $186.36 on Monday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78. The firm has a market capitalization of $74.15 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.00 and a beta of 1.14. The company has a 50-day simple moving average of $177.11 and a 200-day simple moving average of $163.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $3.36 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the transaction, the chief executive officer now owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the transaction, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at $94,368,662.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,622 shares of company stock worth $4,319,914. Corporate insiders own 0.42% of the company’s stock.

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.