PNC Financial Services Group Inc (PNC) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board cut its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 7.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 81,054 shares of the financial services provider’s stock after selling 6,108 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in PNC Financial Services Group were worth $11,695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC acquired a new position in shares of PNC Financial Services Group in the 4th quarter valued at approximately $134,000. Resources Investment Advisors Inc. grew its position in shares of PNC Financial Services Group by 130.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 1,059 shares of the financial services provider’s stock valued at $153,000 after purchasing an additional 600 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of PNC Financial Services Group in the 4th quarter valued at approximately $157,000. Legacy Advisors LLC acquired a new position in shares of PNC Financial Services Group in the 3rd quarter valued at approximately $136,000. Finally, Capital Guardian Trust Co. acquired a new position in shares of PNC Financial Services Group in the 3rd quarter valued at approximately $154,000. Institutional investors and hedge funds own 80.87% of the company’s stock.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $140.98, for a total value of $704,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Q. Reilly sold 19,576 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $145.51, for a total value of $2,848,503.76. Following the completion of the sale, the insider now owns 103,299 shares in the company, valued at approximately $15,031,037.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,894 shares of company stock worth $14,897,513. Company insiders own 0.43% of the company’s stock.

Shares of PNC Financial Services Group Inc (NYSE:PNC) opened at $159.08 on Tuesday. PNC Financial Services Group Inc has a 12 month low of $115.25 and a 12 month high of $160.81. The stock has a market capitalization of $75,244.84, a P/E ratio of 18.69, a PEG ratio of 1.48 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the business posted $1.97 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. research analysts forecast that PNC Financial Services Group Inc will post 10.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is currently 28.85%.

Several equities research analysts have commented on PNC shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $162.00 target price on shares of PNC Financial Services Group in a research note on Friday, December 22nd. Zacks Investment Research upgraded PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a research note on Tuesday, December 26th. Wells Fargo & Co set a $149.00 target price on PNC Financial Services Group and gave the company a “hold” rating in a research note on Wednesday, December 20th. Credit Suisse Group restated a “hold” rating and issued a $150.00 target price on shares of PNC Financial Services Group in a research note on Friday, January 5th. Finally, JPMorgan Chase & Co. boosted their target price on PNC Financial Services Group from $139.50 to $140.50 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Eighteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $145.98.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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