Kentucky Retirement Systems Has $4.66 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kentucky Retirement Systems decreased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,985 shares of the financial services provider’s stock after selling 242 shares during the quarter. Kentucky Retirement Systems’ holdings in The PNC Financial Services Group were worth $4,662,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Grayhawk Investment Strategies Inc. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $1,200,000. Envestnet Asset Management Inc. raised its holdings in The PNC Financial Services Group by 0.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock valued at $239,792,000 after buying an additional 6,657 shares in the last quarter. Groupama Asset Managment bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $23,578,000. Integrated Advisors Network LLC boosted its stake in shares of The PNC Financial Services Group by 7.3% during the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 148 shares in the last quarter. Finally, Equity Investment Corp increased its holdings in shares of The PNC Financial Services Group by 3.4% during the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after acquiring an additional 22,188 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 2.5 %

Shares of PNC stock opened at $187.16 on Friday. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $187.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a fifty day moving average price of $176.75 and a 200 day moving average price of $162.68. The stock has a market cap of $74.47 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.36 EPS. Analysts predict that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Analyst Ratings Changes

PNC has been the subject of several analyst reports. Evercore ISI boosted their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Jefferies Financial Group lifted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $176.90.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the sale, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares of the company’s stock, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders sold 24,622 shares of company stock worth $4,319,914 in the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Company Profile

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.