Retirement Systems of Alabama Has $16 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Retirement Systems of Alabama lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 86,541 shares of the financial services provider’s stock after selling 1,233 shares during the period. Retirement Systems of Alabama’s holdings in The PNC Financial Services Group were worth $15,997,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC increased its position in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the last quarter. Brookstone Capital Management increased its holdings in The PNC Financial Services Group by 7.8% in the second quarter. Brookstone Capital Management now owns 13,639 shares of the financial services provider’s stock worth $2,121,000 after buying an additional 989 shares during the last quarter. Western Wealth Management LLC raised its position in The PNC Financial Services Group by 13.9% during the second quarter. Western Wealth Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 241 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in The PNC Financial Services Group by 11.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 12,507 shares of the financial services provider’s stock valued at $1,945,000 after acquiring an additional 1,332 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its position in The PNC Financial Services Group by 8.7% in the second quarter. Apollon Wealth Management LLC now owns 25,954 shares of the financial services provider’s stock worth $4,035,000 after acquiring an additional 2,082 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

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, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the sale, the chief executive officer now directly owns 549,733 shares in the company, valued at $101,007,941.42. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,030 shares of company stock worth $5,873,691. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.4 %

Shares of PNC opened at $201.50 on Monday. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The firm has a market capitalization of $79.95 billion, a P/E ratio of 17.03, a P/E/G ratio of 2.11 and a beta of 1.15. The company has a 50-day simple moving average of $198.84 and a 200-day simple moving average of $180.33. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.60 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.18%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analyst Ratings Changes

Several research firms recently issued reports on PNC. Citigroup upped their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Stephens upped their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Keefe, Bruyette & Woods upped their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $200.81.

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.