Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,368 shares of the financial services provider's stock after selling 2,163 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in The PNC Financial Services Group were worth $16,270,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PNC. Bank of New York Mellon Corp increased its position in The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after purchasing an additional 710,311 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in The PNC Financial Services Group by 88.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider's stock valued at $108,217,000 after purchasing an additional 274,186 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of The PNC Financial Services Group by 129.3% during the 3rd quarter. Toronto Dominion Bank now owns 447,755 shares of the financial services provider's stock worth $82,768,000 after purchasing an additional 252,473 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $37,587,000. Finally, KBC Group NV raised its position in shares of The PNC Financial Services Group by 214.4% in the fourth quarter. KBC Group NV now owns 271,588 shares of the financial services provider's stock valued at $52,375,000 after buying an additional 185,210 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Compass Point raised their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Morgan Stanley upped their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. The Goldman Sachs Group reduced their target price on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Finally, Stephens restated an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of "Hold" and an average price target of $201.65.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $172.00, for a total transaction of $213,624.00. Following the sale, the chief executive officer now owns 566,057 shares in the company, valued at $97,361,804. This trade represents a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 13,662 shares of company stock worth $2,582,789 in the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 0.2 %

Shares of PNC stock traded up $0.30 during mid-day trading on Tuesday, reaching $176.84. The company's stock had a trading volume of 2,035,865 shares, compared to its average volume of 1,761,982. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $69.98 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company's 50 day simple moving average is $189.70 and its 200-day simple moving average is $192.31. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.16 earnings per share. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.62%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

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.