Maryland State Retirement & Pension System Has $4.80 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Maryland State Retirement & Pension System grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,000 shares of the financial services provider’s stock after purchasing an additional 581 shares during the quarter. Maryland State Retirement & Pension System’s holdings in The PNC Financial Services Group were worth $4,800,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PNC. Raymond James Financial Services Advisors Inc. raised its stake in The PNC Financial Services Group by 22.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 139,150 shares of the financial services provider’s stock worth $17,083,000 after buying an additional 25,304 shares during the period. Verdence Capital Advisors LLC raised its stake in The PNC Financial Services Group by 21.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 11,799 shares of the financial services provider’s stock worth $1,449,000 after buying an additional 2,095 shares during the period. Hapanowicz & Associates Financial Services Inc raised its stake in The PNC Financial Services Group by 16.3% during the 3rd quarter. Hapanowicz & Associates Financial Services Inc now owns 4,270 shares of the financial services provider’s stock worth $524,000 after buying an additional 597 shares during the period. AMF Tjanstepension AB raised its stake in The PNC Financial Services Group by 4.3% during the 3rd quarter. AMF Tjanstepension AB now owns 253,400 shares of the financial services provider’s stock worth $31,110,000 after buying an additional 10,464 shares during the period. Finally, IFM Investors Pty Ltd raised its stake in shares of The PNC Financial Services Group by 3.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 85,060 shares of the financial services provider’s stock valued at $10,443,000 after purchasing an additional 2,979 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley lifted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. UBS Group lifted their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Jefferies Financial Group dropped their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. Finally, Evercore ISI reduced their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $157.02.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at $5,442,347.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded up $0.21 during midday trading on Monday, reaching $156.43. The company’s stock had a trading volume of 1,188,643 shares, compared to its average volume of 2,058,579. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The business’s 50 day moving average price is $153.82 and its two-hundred day moving average price is $145.08. The company has a market cap of $62.23 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the business earned $3.98 earnings per share. The company’s revenue was down 8.2% on a year-over-year basis. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 12.64 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 Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.96%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

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.