PNC Financial Services Group Inc (NYSE:PNC) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 826,200 shares of the financial services provider’s stock after selling 1,611 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.19% of PNC Financial Services Group worth $115,800,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Zevin Asset Management LLC boosted its holdings in shares of PNC Financial Services Group by 2.3% during the third quarter. Zevin Asset Management LLC now owns 34,603 shares of the financial services provider’s stock worth $4,850,000 after purchasing an additional 785 shares during the period. Opus Capital Group LLC bought a new position in shares of PNC Financial Services Group in the third quarter valued at approximately $442,000. Lakeview Capital Partners LLC raised its position in shares of PNC Financial Services Group by 4.6% in the third quarter. Lakeview Capital Partners LLC now owns 4,683 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 206 shares during the period. Private Ocean LLC raised its position in shares of PNC Financial Services Group by 101.5% in the third quarter. Private Ocean LLC now owns 397 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 200 shares during the period. Finally, Eagle Asset Management Inc. raised its position in shares of PNC Financial Services Group by 6.9% in the third quarter. Eagle Asset Management Inc. now owns 786,826 shares of the financial services provider’s stock valued at $110,281,000 after purchasing an additional 50,998 shares during the period. Institutional investors own 80.68% of the company’s stock.

In other news, Director Charles E. Bunch bought 1,000 shares of PNC Financial Services Group stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $124.38 per share, for a total transaction of $124,380.00. Following the purchase, the director now owns 3,781 shares of the company’s stock, valued at $470,280.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 17,132 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $135.11, for a total transaction of $2,314,704.52. Following the completion of the sale, the chief executive officer now owns 507,979 shares in the company, valued at approximately $68,633,042.69. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

PNC traded down $0.87 during trading on Friday, reaching $152.20. 1,573,036 shares of the company’s stock were exchanged, compared to its average volume of 2,010,443. PNC Financial Services Group Inc has a fifty-two week low of $108.45 and a fifty-two week high of $154.75. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.10. The business has a 50 day moving average price of $143.35 and a 200 day moving average price of $136.47. The company has a market capitalization of $67.25 billion, a P/E ratio of 14.21, a PEG ratio of 1.83 and a beta of 1.14.

PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.80 by $0.14. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the company earned $2.82 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts forecast that PNC Financial Services Group Inc will post 11.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th were paid a $1.15 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $4.60 annualized dividend and a dividend yield of 3.02%. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

Several equities research analysts have recently issued reports on PNC shares. Zacks Investment Research downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price objective on the stock. in a research note on Tuesday, October 1st. Robert W. Baird set a $141.00 price objective on shares of PNC Financial Services Group and gave the stock a “buy” rating in a research note on Monday, August 26th. Morgan Stanley raised their price objective on shares of PNC Financial Services Group from $141.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on shares of PNC Financial Services Group from $147.50 to $155.50 and gave the stock an “overweight” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $146.20.

About PNC Financial Services Group

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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