South Dakota Investment Council Lowers Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

South Dakota Investment Council reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,669 shares of the financial services provider’s stock after selling 4,700 shares during the period. South Dakota Investment Council’s holdings in The PNC Financial Services Group were worth $11,562,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Householder Group Estate & Retirement Specialist LLC raised its position in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $28,000. Finally, Criterion Capital Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Jefferies Financial Group cut their target price 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. UBS Group upped their target price 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. Wells Fargo & Company upped their target price 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. Finally, Morgan Stanley increased their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Up 1.1 %

Shares of PNC traded up $1.68 during midday trading on Tuesday, hitting $157.61. 2,136,632 shares of the company’s stock traded hands, compared to its average volume of 2,148,747. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The firm’s fifty day moving average is $152.28 and its 200-day moving average is $142.77. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $62.70 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last issued 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 firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.98 EPS. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.93%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group 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.