PNC Financial Services Group Inc (NYSE:PNC) Shares Sold by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System lowered its stake in PNC Financial Services Group Inc (NYSE:PNC) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 601,902 shares of the financial services provider’s stock after selling 825 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of PNC Financial Services Group worth $63,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PNC. Rosenberg Matthew Hamilton acquired a new stake in PNC Financial Services Group in the 2nd quarter valued at about $28,000. Trustcore Financial Services LLC raised its position in PNC Financial Services Group by 79.1% in the 2nd quarter. Trustcore Financial Services LLC now owns 274 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in PNC Financial Services Group in the 1st quarter valued at about $30,000. West Oak Capital LLC raised its position in PNC Financial Services Group by 198.0% in the 2nd quarter. West Oak Capital LLC now owns 301 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Finally, MV Capital Management Inc. raised its position in PNC Financial Services Group by 104.0% in the 2nd quarter. MV Capital Management Inc. now owns 306 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 156 shares in the last quarter. 80.49% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on PNC shares. UBS Group lowered PNC Financial Services Group from a “neutral” rating to a “sell” rating and set a $88.00 price target on the stock. in a research report on Monday, May 4th. Morgan Stanley raised their target price on PNC Financial Services Group from $98.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 24th. Stephens raised PNC Financial Services Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, May 12th. Wolfe Research began coverage on PNC Financial Services Group in a research report on Friday, July 31st. They set an “underperform” rating on the stock. Finally, Oppenheimer reissued a “hold” rating on shares of PNC Financial Services Group in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $124.21.

Shares of PNC stock traded down $0.26 during midday trading on Thursday, hitting $106.13. The company had a trading volume of 48,636 shares, compared to its average volume of 2,077,077. The company’s 50 day simple moving average is $105.77 and its 200 day simple moving average is $111.87. PNC Financial Services Group Inc has a 52-week low of $79.41 and a 52-week high of $161.79. The stock has a market cap of $45.46 billion, a price-to-earnings ratio of 6.50, a PEG ratio of 4.16 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.87 and a quick ratio of 0.86.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported ($1.90) earnings per share for the quarter, missing the consensus estimate of $0.88 by ($2.78). PNC Financial Services Group had a net margin of 35.52% and a return on equity of 5.78%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the business posted $2.88 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts anticipate that PNC Financial Services Group Inc will post 3.67 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Friday, July 17th were paid a $1.15 dividend. The ex-dividend date of this dividend was Thursday, July 16th. This represents a $4.60 annualized dividend and a dividend yield of 4.33%. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 40.39%.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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