State of Alaska Department of Revenue cut its position in PNC Financial Services Group Inc (NYSE:PNC) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,967 shares of the financial services provider’s stock after selling 6,206 shares during the quarter. State of Alaska Department of Revenue’s holdings in PNC Financial Services Group were worth $9,329,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in PNC Financial Services Group in the first quarter valued at about $25,000. Field & Main Bank bought a new position in PNC Financial Services Group in the first quarter valued at about $25,000. IMA Wealth Inc. bought a new position in PNC Financial Services Group in the first quarter valued at about $25,000. Penserra Capital Management LLC bought a new position in PNC Financial Services Group in the first quarter valued at about $25,000. Finally, Meridian Wealth Management LLC bought a new position in PNC Financial Services Group in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.

In related news, EVP Stacy M. Juchno sold 710 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $141.90, for a total transaction of $100,749.00. Following the completion of the sale, the executive vice president now owns 4,583 shares of the company’s stock, valued at $650,327.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Hannon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $138.41, for a total value of $692,050.00. Following the sale, the insider now directly owns 52,417 shares of the company’s stock, valued at approximately $7,255,036.97. The disclosure for this sale can be found here. Insiders have sold 129,995 shares of company stock valued at $18,246,578 in the last ninety days. 0.37% of the stock is currently owned by insiders.

Several research firms have commented on PNC. Barclays increased their target price on Zimmer Biomet from $113.00 to $117.00 and gave the company an “underweight” rating in a research report on Monday, April 15th. UBS Group set a $169.00 price target on M&T Bank and gave the company a “hold” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. started coverage on Pinduoduo in a research note on Tuesday, July 9th. They issued an “underweight” rating and a $20.48 price target for the company. Morgan Stanley set a $36.00 price target on ArcBest and gave the company a “hold” rating in a research note on Monday, July 8th. Finally, ValuEngine cut Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $142.99.

Shares of PNC stock traded up $0.46 on Tuesday, hitting $142.42. The company had a trading volume of 33,728 shares, compared to its average volume of 1,757,713. The stock has a market cap of $64.47 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 1.86 and a beta of 1.09. The company’s 50-day moving average price is $138.23. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.94 and a current ratio of 0.94. PNC Financial Services Group Inc has a twelve month low of $108.45 and a twelve month high of $147.23.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a return on equity of 11.10% and a net margin of 25.46%. The company had revenue of $4.44 billion during the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the prior year, the firm posted $2.72 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that PNC Financial Services Group Inc will post 11.29 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 19th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, July 18th. This represents a $4.60 annualized dividend and a yield of 3.23%. This is a boost from PNC Financial Services Group’s previous quarterly dividend of $0.95. PNC Financial Services Group’s dividend payout ratio (DPR) is currently 42.95%.

PNC Financial Services Group Profile

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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