Louisiana State Employees Retirement System Decreases Stake in PNC Financial Services Group Inc (PNC)

Louisiana State Employees Retirement System decreased its position in PNC Financial Services Group Inc (NYSE:PNC) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,900 shares of the financial services provider’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in PNC Financial Services Group were worth $2,932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oakworth Capital Inc. raised its stake in PNC Financial Services Group by 15.5% during the 4th quarter. Oakworth Capital Inc. now owns 640 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 86 shares in the last quarter. Adviser Investments LLC raised its stake in PNC Financial Services Group by 2.7% during the 4th quarter. Adviser Investments LLC now owns 3,509 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 91 shares in the last quarter. Cohen & Steers Inc. raised its stake in PNC Financial Services Group by 0.6% during the 3rd quarter. Cohen & Steers Inc. now owns 16,001 shares of the financial services provider’s stock valued at $2,179,000 after acquiring an additional 96 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in PNC Financial Services Group by 31.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 409 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 97 shares in the last quarter. Finally, Indiana Trust & Investment Management CO raised its stake in PNC Financial Services Group by 3.8% during the 4th quarter. Indiana Trust & Investment Management CO now owns 2,735 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 82.25% of the company’s stock.

A number of analysts have recently commented on PNC shares. Royal Bank of Canada dropped their price objective on PNC Financial Services Group to $150.00 and set an “average” rating on the stock in a research note on Thursday, January 17th. Morgan Stanley dropped their price objective on PNC Financial Services Group from $147.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 8th. Barclays dropped their price objective on PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 2nd. UBS Group set a $133.00 price objective on PNC Financial Services Group and gave the stock a “hold” rating in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $144.99.

In related news, insider Michael J. Hannon sold 5,000 shares of PNC Financial Services Group stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $124.82, for a total transaction of $624,100.00. Following the completion of the sale, the insider now owns 53,239 shares of the company’s stock, valued at $6,645,291.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Robert Q. Reilly sold 12,361 shares of PNC Financial Services Group stock in a transaction on Friday, February 8th. The shares were sold at an average price of $122.50, for a total value of $1,514,222.50. Following the sale, the executive vice president now directly owns 118,671 shares of the company’s stock, valued at approximately $14,537,197.50. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Shares of PNC stock traded down $0.91 on Monday, reaching $131.79. 41,378 shares of the company’s stock traded hands, compared to its average volume of 2,103,256. PNC Financial Services Group Inc has a 12-month low of $108.45 and a 12-month high of $152.29. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $58.39 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.51 and a beta of 1.05.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.61. PNC Financial Services Group had a return on equity of 11.23% and a net margin of 26.51%. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $2.43 earnings per share. On average, sell-side analysts predict that PNC Financial Services Group Inc will post 11.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Tuesday, April 16th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Monday, April 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.88%. PNC Financial Services Group’s dividend payout ratio is 35.48%.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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