South Dakota Investment Council Sells 13,618 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

South Dakota Investment Council cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 25.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 40,036 shares of the financial services provider’s stock after selling 13,618 shares during the period. South Dakota Investment Council’s holdings in The PNC Financial Services Group were worth $7,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $32,000. Finally, Financial Life Planners purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $37,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PNC has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Compass Point upped their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley raised their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $205.00.

The PNC Financial Services Group Stock Down 2.1 %

PNC stock opened at $187.90 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The business has a fifty day moving average price of $196.08 and a 200-day moving average price of $191.80. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $74.55 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $209.24, for a total transaction of $259,876.08. Following the completion of the sale, the chief executive officer now owns 532,523 shares in the company, valued at approximately $111,425,112.52. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 12,420 shares of company stock worth $2,474,722. 0.42% of the stock is owned by 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.