Oregon Public Employees Retirement Fund Has $9.06 Million Position in The PNC Financial Services Group, Inc $PNC

Oregon Public Employees Retirement Fund boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 32.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,071 shares of the financial services provider’s stock after purchasing an additional 10,948 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in The PNC Financial Services Group were worth $9,056,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in The PNC Financial Services Group in the 2nd quarter valued at about $27,000. Concord Wealth Partners boosted its holdings in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in The PNC Financial Services Group in the second quarter valued at approximately $37,000. True Wealth Design LLC increased its holdings in shares of The PNC Financial Services Group by 1,133.3% during the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 204 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter worth approximately $50,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the transaction, the executive vice president owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, UBS Group boosted their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.06.

The PNC Financial Services Group Stock Down 0.5%

The PNC Financial Services Group stock opened at $217.52 on Friday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $220.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day simple moving average is $199.45 and its 200 day simple moving average is $196.18. The stock has a market cap of $85.30 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the business posted $3.49 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 43.93%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.