South Dakota Investment Council Boosts Stock Position in The PNC Financial Services Group, Inc $PNC

South Dakota Investment Council increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 28.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,164 shares of the financial services provider’s stock after acquiring an additional 10,992 shares during the period. South Dakota Investment Council’s holdings in The PNC Financial Services Group were worth $9,352,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Nuveen LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $306,905,000. Amundi lifted its holdings in The PNC Financial Services Group by 76.1% during the 1st quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock worth $352,592,000 after buying an additional 944,731 shares in the last quarter. AQR Capital Management LLC boosted its position in The PNC Financial Services Group by 187.3% in the 1st quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider’s stock valued at $245,055,000 after buying an additional 926,709 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of The PNC Financial Services Group by 41.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock worth $495,336,000 after acquiring an additional 830,440 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $182.66 on Monday. 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, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm has a market capitalization of $71.93 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. The stock’s 50-day simple moving average is $195.95 and its 200-day simple moving average is $186.29.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The PNC Financial Services Group had a return on equity of 11.47% and a net margin of 19.30%.The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the company posted $3.49 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 43.93%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Guild Deborah sold 1,080 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the completion of the transaction, the executive vice president owned 27,335 shares in the company, valued at $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Stephens reiterated 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, October 8th. UBS Group lifted their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $240.00 target price (up previously from $235.00) on shares of The PNC Financial Services Group in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.