Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 6,469 Shares of The PNC Financial Services Group, Inc $PNC

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,015 shares of the financial services provider’s stock after buying an additional 6,469 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in The PNC Financial Services Group were worth $18,086,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 984 shares in the last quarter. Formidable Asset Management LLC boosted its holdings in The PNC Financial Services Group by 1.4% during the first quarter. Formidable Asset Management LLC now owns 6,103 shares of the financial services provider’s stock worth $1,073,000 after purchasing an additional 82 shares during the last quarter. Buckhead Capital Management LLC grew its position in The PNC Financial Services Group by 0.6% in the 1st quarter. Buckhead Capital Management LLC now owns 14,515 shares of the financial services provider’s stock worth $2,551,000 after purchasing an additional 90 shares in the last quarter. AMG National Trust Bank increased its stake in The PNC Financial Services Group by 5.7% in the 1st quarter. AMG National Trust Bank now owns 6,889 shares of the financial services provider’s stock valued at $1,211,000 after buying an additional 371 shares during the last quarter. Finally, Denali Advisors LLC increased its stake in The PNC Financial Services Group by 58.1% in the 1st quarter. Denali Advisors LLC now owns 4,900 shares of the financial services provider’s stock valued at $861,000 after buying an additional 1,800 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.1%

Shares of PNC opened at $183.88 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The business has a 50-day moving average of $191.69 and a 200 day moving average of $188.03. The firm has a market cap of $72.11 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the business earned $3.49 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The PNC Financial Services Group’s dividend payout ratio is currently 43.93%.

Insiders Place Their Bets

In related news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the sale, the executive vice president owned 5,802 shares of the company’s stock, valued at approximately $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at $5,110,824.95. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,151 shares of company stock valued at $400,092 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PNC shares. UBS Group boosted their target price on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Oppenheimer reiterated an “outperform” rating and set a $240.00 price target (up from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, September 10th. Citigroup raised their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, Truist Financial lifted their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $218.47.

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.