NJ State Employees Deferred Compensation Plan Has $1.84 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

NJ State Employees Deferred Compensation Plan raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 48.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,900 shares of the financial services provider’s stock after acquiring an additional 3,900 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in The PNC Financial Services Group were worth $1,843,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in shares of The PNC Financial Services Group by 73.2% in the 3rd quarter. International Assets Investment Management LLC now owns 4,118 shares of the financial services provider’s stock worth $502,000 after buying an additional 1,740 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of The PNC Financial Services Group by 35.8% in the 3rd quarter. IFP Advisors Inc now owns 3,742 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 987 shares during the last quarter. Summit Global Investments increased its position in shares of The PNC Financial Services Group by 89.3% during the 3rd quarter. Summit Global Investments now owns 3,564 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 1,681 shares in the last quarter. DAVENPORT & Co LLC lifted its holdings in The PNC Financial Services Group by 5.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 32,582 shares of the financial services provider’s stock valued at $4,000,000 after purchasing an additional 1,746 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in The PNC Financial Services Group by 0.9% in the third quarter. GHP Investment Advisors Inc. now owns 11,615 shares of the financial services provider’s stock valued at $1,372,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.1 %

PNC stock traded down $0.19 during midday trading on Friday, hitting $156.11. 979,207 shares of the company’s stock were exchanged, compared to its average volume of 2,107,485. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $62.10 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18. The stock’s fifty day moving average price is $152.61 and its 200-day moving average price is $142.97.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.98 EPS. Research analysts predict that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research analyst reports. StockNews.com cut shares of The PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Friday. UBS Group increased their price objective on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Evercore ISI reduced their target price on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group raised their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $156.63.

The PNC Financial Services Group 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.