The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,400 shares of the financial services provider’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in The PNC Financial Services Group were worth $4,141,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brookstone Capital Management lifted its position in shares of The PNC Financial Services Group by 4.3% in the first quarter. Brookstone Capital Management now owns 12,650 shares of the financial services provider’s stock worth $2,044,000 after purchasing an additional 519 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of The PNC Financial Services Group by 1.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 74 shares during the period. Vicus Capital acquired a new stake in shares of The PNC Financial Services Group in the first quarter worth $300,000. Breakwater Capital Group grew its stake in shares of The PNC Financial Services Group by 4.3% in the first quarter. Breakwater Capital Group now owns 3,963 shares of the financial services provider’s stock worth $640,000 after acquiring an additional 162 shares during the last quarter. Finally, LVW Advisors LLC grew its stake in shares of The PNC Financial Services Group by 29.6% in the first quarter. LVW Advisors LLC now owns 5,890 shares of the financial services provider’s stock worth $952,000 after acquiring an additional 1,346 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 9th. The stock was sold at an average price of $170.11, for a total transaction of $211,276.62. Following the sale, the chief executive officer now directly owns 558,427 shares in the company, valued at approximately $94,994,016.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares of the company’s stock, valued at approximately $94,994,016.97. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,279 shares of company stock valued at $4,395,540 over the last 90 days. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $185.82 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $110.79 and a 1 year high of $196.64. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $73.94 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The business has a 50-day moving average of $182.56 and a 200-day moving average of $168.19.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the company posted $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.44%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. UBS Group lifted their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $185.71.

About The PNC Financial Services Group

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.