South Dakota Investment Council Has $9.58 Million Stock Position in The PNC Financial Services Group, Inc $PNC

South Dakota Investment Council lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,664 shares of the financial services provider’s stock after selling 2,500 shares during the period. South Dakota Investment Council’s holdings in The PNC Financial Services Group were worth $9,577,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Westfuller Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the third quarter worth approximately $34,000. True Wealth Design LLC lifted its stake in The PNC Financial Services Group by 1,133.3% during the 2nd 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. Bayforest Capital Ltd boosted its holdings in The PNC Financial Services Group by 237.1% during the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 147 shares during the last quarter. Corundum Trust Company INC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $49,000. Finally, Country Trust Bank raised its holdings in shares of The PNC Financial Services Group by 38.9% in the third quarter. Country Trust Bank now owns 243 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PNC shares. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Royal Bank Of Canada increased their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Oppenheimer lifted their price target on The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Finally, Barclays boosted their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $234.44.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $213.19 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.81 and a quick ratio of 0.81. The business has a fifty day simple moving average of $222.33 and a two-hundred day simple moving average of $204.81. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The company has a market capitalization of $85.99 billion, a P/E ratio of 12.85, a P/E/G ratio of 0.89 and a beta of 0.98.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.77 EPS. On average, analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.99%.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Alexander E. C. Overstrom sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the sale, the executive vice president owned 21,120 shares of the company’s stock, valued at $4,940,179.20. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Richard Kevin Bynum sold 7,407 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the sale, the executive vice president owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock worth $14,840,973 over the last three months. Company insiders own 0.41% of the company’s stock.

About The PNC Financial Services Group

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.