Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Teachers Retirement System of The State of Kentucky reduced its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,472 shares of the financial services provider’s stock after selling 597 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in The PNC Financial Services Group were worth $5,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PNC. Mechanics Financial Corp acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $541,000. AssuredPartners Investment Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $739,000. Premier Fund Managers Ltd grew its stake in shares of The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after buying an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after buying an additional 8,081 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after buying an additional 8,735 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $154.44 on Wednesday. The firm has a fifty day moving average of $171.91 and a two-hundred day moving average of $188.77. The firm has a market cap of $61.12 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. 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 PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. 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 $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. As a group, research analysts anticipate 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 will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

Analysts Set New Price Targets

PNC has been the subject of several research analyst reports. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Barclays reduced their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Keefe, Bruyette & Woods lowered their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Finally, Morgan Stanley lowered their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $200.88.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the transaction, the chief executive officer now owns 522,587 shares of the company’s stock, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 12,460 shares of company stock valued at $2,223,979 over the last 90 days. 0.41% of the stock is owned by company insiders.

The PNC Financial Services Group Company 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.