New York State Common Retirement Fund Has $125.10 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

New York State Common Retirement Fund cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 648,690 shares of the financial services provider's stock after selling 51,702 shares during the quarter. New York State Common Retirement Fund owned approximately 0.16% of The PNC Financial Services Group worth $125,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Loomis Sayles & Co. L P increased its holdings in The PNC Financial Services Group by 8.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock worth $115,000 after purchasing an additional 50 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its holdings in The PNC Financial Services Group by 3.1% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock worth $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock worth $434,000 after purchasing an additional 53 shares during the last quarter. MFA Wealth Advisors LLC increased its holdings in The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after purchasing an additional 55 shares during the last quarter. Finally, Altman Advisors Inc. increased its holdings in The PNC Financial Services Group by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock worth $1,942,000 after purchasing an additional 56 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

PNC stock traded down $3.99 during trading on Friday, reaching $187.90. 1,991,887 shares of the company's stock were exchanged, compared to its average volume of 2,191,146. 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 PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The company's fifty day moving average price is $196.34 and its 200-day moving average price is $191.49. The firm has a market cap of $74.55 billion, a PE ratio of 13.67, a P/E/G ratio of 1.57 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during 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 quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.16 EPS. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.41%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PNC shares. Truist Financial boosted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a report on Friday, January 17th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Stephens reiterated 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. Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $205.00.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the completion of the sale, the chief executive officer now owns 532,523 shares in the company, valued at $111,425,112.52. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 12,420 shares of company stock worth $2,474,722 over the last 90 days. 0.42% of the stock is currently owned by company insiders.

About The PNC Financial Services Group

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.