Strs Ohio Sells 6,447 Shares of The PNC Financial Services Group, Inc $PNC

Strs Ohio lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,593 shares of the financial services provider’s stock after selling 6,447 shares during the period. Strs Ohio’s holdings in The PNC Financial Services Group were worth $26,135,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PNC. Vanguard Group Inc. increased its position in shares of The PNC Financial Services Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after acquiring an additional 408,464 shares during the last quarter. State Street Corp boosted its position in The PNC Financial Services Group by 0.4% in the fourth quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock worth $3,615,085,000 after purchasing an additional 77,302 shares during the last quarter. Capital International Investors grew its stake in The PNC Financial Services Group by 10.2% in the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after purchasing an additional 1,101,055 shares during the period. Norges Bank bought a new position in The PNC Financial Services Group in the 4th quarter valued at $1,967,080,000. Finally, Geode Capital Management LLC increased its position in shares of The PNC Financial Services Group by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock valued at $1,841,387,000 after purchasing an additional 30,078 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Down 0.1%

PNC opened at $249.13 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $254.00. The company has a market cap of $100.04 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average of $226.89 and a 200 day moving average of $220.62.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business posted $3.51 earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that The PNC Financial Services Group, Inc will post 18.82 EPS for the current year.

Insider Activity

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PNC shares. Stephens assumed coverage on The PNC Financial Services Group in a research note on Monday, June 15th. They set an “overweight” rating and a $265.00 target price on the stock. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.71.

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.