Illinois Municipal Retirement Fund Sells 15,435 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Illinois Municipal Retirement Fund decreased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 21.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 55,072 shares of the financial services provider’s stock after selling 15,435 shares during the period. Illinois Municipal Retirement Fund’s holdings in The PNC Financial Services Group were worth $10,621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after buying an additional 8,081 shares during the period. Fifth Third Wealth Advisors LLC increased its position in The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after buying an additional 8,735 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 2,009 shares in the last quarter. Root Financial Partners LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $346,000. Finally, Truist Financial Corp increased its holdings in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock valued at $218,429,000 after purchasing an additional 15,246 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 0.2 %

NYSE PNC opened at $186.55 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $74.02 billion, a PE ratio of 13.57, a P/E/G ratio of 1.55 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The firm’s fifty day moving average is $195.56 and its two-hundred day moving average is $192.21.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.16 earnings per share. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.43%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Transactions at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares in the company, valued at $115,298,577.65. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 13,662 shares of company stock worth $2,713,745 over the last ninety days. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the topic of a number of research reports. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Compass Point upped their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial raised their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $205.00.

About The PNC Financial Services Group

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.