New York State Common Retirement Fund Sells 45,254 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

New York State Common Retirement Fund reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 750,628 shares of the financial services provider’s stock after selling 45,254 shares during the quarter. New York State Common Retirement Fund’s holdings in The PNC Financial Services Group were worth $116,235,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PNC. BKM Wealth Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC increased its stake in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $28,000. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.

The PNC Financial Services Group Trading Up 0.9 %

NYSE:PNC traded up $1.34 during mid-day trading on Tuesday, reaching $157.27. 478,530 shares of the company’s stock traded hands, compared to its average volume of 2,126,943. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50 day moving average price of $152.03 and a 200-day moving average price of $142.51. The firm has a market capitalization of $62.56 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.72 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.98 earnings per share. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Jefferies Financial Group cut their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.63.

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.