PNC Financial Services Group Inc (PNC) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board trimmed its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 2.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,449 shares of the financial services provider’s stock after selling 1,100 shares during the period. New Mexico Educational Retirement Board’s holdings in PNC Financial Services Group were worth $4,716,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BTIM Corp. lifted its holdings in shares of PNC Financial Services Group by 3.5% in the 1st quarter. BTIM Corp. now owns 648,265 shares of the financial services provider’s stock worth $79,516,000 after purchasing an additional 21,940 shares in the last quarter. Massey Quick Simon & CO. LLC bought a new position in shares of PNC Financial Services Group in the 1st quarter worth $104,000. Jag Capital Management LLC lifted its holdings in shares of PNC Financial Services Group by 4.0% in the 1st quarter. Jag Capital Management LLC now owns 12,606 shares of the financial services provider’s stock worth $1,546,000 after purchasing an additional 482 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of PNC Financial Services Group in the 1st quarter worth $3,005,000. Finally, Raymond James Trust N.A. lifted its holdings in shares of PNC Financial Services Group by 3.0% in the 1st quarter. Raymond James Trust N.A. now owns 34,288 shares of the financial services provider’s stock worth $4,206,000 after purchasing an additional 1,003 shares in the last quarter. Institutional investors own 82.27% of the company’s stock.

In other news, insider Michael J. Hannon sold 5,000 shares of the firm’s 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 directly owns 53,239 shares of the company’s stock, valued at approximately $6,645,291.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff bought 500 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were acquired at an average cost of $125.69 per share, with a total value of $62,845.00. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.

PNC has been the topic of a number of recent research reports. Barclays cut their target price on PNC Financial Services Group from $173.00 to $156.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 2nd. Goldman Sachs Group cut PNC Financial Services Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $154.00 to $144.00 in a report on Monday, January 7th. 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. Bank of America cut PNC Financial Services Group from a “buy” rating to a “neutral” rating in a research note on Thursday, January 10th. Finally, 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $145.66.

Shares of NYSE:PNC opened at $133.15 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 1.23. PNC Financial Services Group Inc has a 1-year low of $108.45 and a 1-year high of $152.29. The firm has a market cap of $59.45 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.53 and a beta of 1.05.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.61 earnings per share for the quarter, meeting the consensus estimate of $2.61. PNC Financial Services Group had a return on equity of 11.20% and a net margin of 25.93%. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the business earned $2.43 EPS. As a group, sell-side analysts forecast that PNC Financial Services Group Inc will post 11.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Tuesday, April 16th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Monday, April 15th. PNC Financial Services Group’s dividend payout ratio is presently 35.48%.

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About PNC Financial Services Group

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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