Teachers Retirement System of The State of Kentucky Sells 894 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Teachers Retirement System of The State of Kentucky lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,930 shares of the financial services provider’s stock after selling 894 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in The PNC Financial Services Group were worth $4,965,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Capital International Investors raised its stake in shares of The PNC Financial Services Group by 0.5% in the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after acquiring an additional 78,407 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of The PNC Financial Services Group by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of The PNC Financial Services Group by 19.5% in the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Putnam Investments LLC increased its holdings in shares of The PNC Financial Services Group by 3.2% in the fourth quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock valued at $568,662,000 after purchasing an additional 114,960 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now directly owns 567,041 shares in the company, valued at approximately $89,649,182.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,465 shares of company stock valued at $4,681,565. 0.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research reports. Jefferies Financial Group raised their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Citigroup raised their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Evercore ISI lifted their target price on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Barclays lifted their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $177.65.

The PNC Financial Services Group Trading Down 0.3 %

PNC opened at $179.40 on Thursday. The stock has a market capitalization of $71.31 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $187.78. The firm’s fifty day simple moving average is $178.14 and its 200 day simple moving average is $164.75. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.36 EPS. As a group, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current fiscal year.

The PNC Financial Services Group 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.