The PNC Financial Services Group, Inc $PNC Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,200 shares of the financial services provider’s stock after selling 9,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in The PNC Financial Services Group were worth $45,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Highland Investment Advisors LLC acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at $28,000. Wilkerson Advisory Group LLC increased its position in shares of 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 valued at $31,000 after acquiring an additional 71 shares during the period. NBT Bank N A NY increased its position in shares of The PNC Financial Services Group by 96.3% in the 1st quarter. NBT Bank N A NY now owns 157 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares during the period. Finally, Archer Investment Corp purchased a new position in The PNC Financial Services Group in the 2nd quarter worth $33,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PNC. UBS Group lowered their price target on The PNC Financial Services Group from $288.00 to $286.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Evercore decreased their target price on The PNC Financial Services Group from $265.00 to $260.00 and set an “outperform” rating for the company in a report on Monday, October 19th. HSBC upped their target price on The PNC Financial Services Group from $275.00 to $283.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Tuesday, October 13th. Finally, Wolfe Research began coverage on shares of The PNC Financial Services Group in a research note on Tuesday. They set a “peer perform” rating for the company. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $266.17.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $227.88 on Friday. The business’s 50-day moving average is $230.03 and its two-hundred day moving average is $228.88. The company has a market capitalization of $90.91 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.20 and a beta of 0.94. The PNC Financial Services Group, Inc has a fifty-two week low of $177.08 and a fifty-two week high of $258.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.83 and a current ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, October 15th. The financial services provider reported $5.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.18. The PNC Financial Services Group had a return on equity of 12.82% and a net margin of 21.83%. The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same quarter in the previous year, the firm posted $4.35 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc will post 19.22 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a yield of 3.5%. The PNC Financial Services Group’s payout ratio is presently 42.58%.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stacy Juchno sold 3,354 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the sale, the executive vice president owned 18,800 shares in the company, valued at approximately $4,809,792. This represents a 15.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its principal banking subsidiary, PNC Bank, the company provides banking, lending, investment, and related financial services to individuals, small businesses, corporations, government entities, and institutional clients.

PNC’s consumer offerings include checking and savings accounts, credit cards, mortgages, home equity loans, personal lending, and online and mobile banking.