Public Employees Retirement System of Ohio Increases Holdings in PNC Financial Services Group Inc (PNC)

Public Employees Retirement System of Ohio raised its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 356,301 shares of the financial services provider’s stock after buying an additional 12,265 shares during the period. Public Employees Retirement System of Ohio owned about 0.07% of PNC Financial Services Group worth $48,019,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of PNC Financial Services Group by 1.8% in the second quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock worth $4,065,151,000 after purchasing an additional 589,235 shares in the last quarter. BlackRock Inc. increased its stake in shares of PNC Financial Services Group by 1.3% in the second quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock worth $3,430,820,000 after purchasing an additional 341,222 shares in the last quarter. FMR LLC increased its stake in shares of PNC Financial Services Group by 13.9% in the second quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock worth $1,957,539,000 after purchasing an additional 1,915,923 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of PNC Financial Services Group by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock worth $1,592,394,000 after purchasing an additional 875,164 shares in the last quarter. Finally, Capital World Investors increased its stake in shares of PNC Financial Services Group by 6.9% in the second quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock worth $1,262,761,000 after purchasing an additional 654,997 shares in the last quarter. 81.57% of the stock is owned by institutional investors and hedge funds.

In other PNC Financial Services Group news, insider Karen L. Larrimer sold 3,135 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $136.98, for a total transaction of $429,432.30. Following the completion of the transaction, the insider now owns 20,449 shares in the company, valued at $2,801,104.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The disclosure for this sale can be found here. Insiders have sold 88,947 shares of company stock valued at $12,543,665 in the last quarter. 0.43% of the stock is owned by company insiders.

Shares of PNC Financial Services Group Inc (NYSE:PNC) traded down $0.86 during trading hours on Friday, hitting $142.97. 1,568,400 shares of the company were exchanged, compared to its average volume of 2,187,960. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a 12-month low of $113.66 and a 12-month high of $146.24. The company has a market capitalization of $68,434.47, a price-to-earnings ratio of 17.56, a price-to-earnings-growth ratio of 1.92 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group had a net margin of 24.61% and a return on equity of 9.29%. The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the business earned $1.84 earnings per share. PNC Financial Services Group’s quarterly revenue was up 7.7% compared to the same quarter last year. equities research analysts anticipate that PNC Financial Services Group Inc will post 8.44 EPS for the current year.

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reissued a “buy” rating on shares of PNC Financial Services Group in a research note on Monday, October 16th. Credit Suisse Group increased their price objective on shares of PNC Financial Services Group from $135.00 to $137.00 and gave the stock a “neutral” rating in a research note on Monday, October 16th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research note on Tuesday, October 31st. Instinet reissued a “neutral” rating and issued a $132.00 price objective (up from $129.00) on shares of PNC Financial Services Group in a research note on Saturday, September 30th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group in a research report on Wednesday, October 4th. Sixteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $136.13.

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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.

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

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