The PNC Financial Services Group, Inc $PNC Stock Sold by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,611 shares of the financial services provider’s stock after selling 2,359 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in The PNC Financial Services Group were worth $21,473,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Highland Investment Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $28,000. Wilkerson Advisory Group LLC raised its holdings in The PNC Financial Services Group by 93.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 71 shares during the period. Archer Investment Corp bought a new position in The PNC Financial Services Group in the 2nd quarter worth $33,000. Finally, Dunhill Financial LLC bought a new position in The PNC Financial Services Group in the 2nd quarter worth $37,000. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $281.00 to $250.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Tuesday, October 13th. Deutsche Bank lowered The PNC Financial Services Group from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $230.00 to $265.00 in a research note on Thursday, July 23rd. Robert W. Baird boosted their price objective on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Argus increased their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.04.

The PNC Financial Services Group Trading Down 0.3%

Shares of The PNC Financial Services Group stock opened at $231.40 on Friday. The PNC Financial Services Group, Inc has a 1 year low of $177.08 and a 1 year high of $258.96. The company’s fifty day simple moving average is $227.87 and its 200-day simple moving average is $229.39. The company has a market cap of $91.82 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.20 and a beta of 0.92. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.28.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, October 15th. The financial services provider reported $5.09 EPS for the quarter, beating the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a net margin of 21.83% and a return on equity of 12.82%. The firm had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the prior year, the company earned $4.35 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc will post 19.24 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 5th. Stockholders of record on Wednesday, October 14th were issued a dividend of $2.00 per share. The ex-dividend date was Wednesday, October 14th. This represents a $8.00 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group’s payout ratio is presently 42.58%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc. is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. It serves consumers, small businesses, corporations, government entities and institutional clients through a range of banking and financial services. PNC’s businesses include retail banking, corporate and institutional banking, and asset management. Its offerings include deposit accounts, lending, cash management, treasury services, investment and wealth management, and other financial products and services.