Ontario Teachers Pension Plan Board Decreases Holdings in PNC Financial Services Group Inc (PNC)

Ontario Teachers Pension Plan Board trimmed its position in PNC Financial Services Group Inc (NYSE:PNC) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American International Group Inc. grew its holdings in PNC Financial Services Group by 1.5% in the 4th quarter. American International Group Inc. now owns 250,919 shares of the financial services provider’s stock valued at $36,205,000 after buying an additional 3,774 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in PNC Financial Services Group by 114.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 660,136 shares of the financial services provider’s stock valued at $95,251,000 after buying an additional 352,636 shares in the last quarter. Frontier Investment Mgmt Co. acquired a new position in PNC Financial Services Group in the 4th quarter valued at $654,000. Centaurus Financial Inc. acquired a new position in PNC Financial Services Group in the 4th quarter valued at $512,000. Finally, Crewe Advisors LLC acquired a new position in PNC Financial Services Group in the 4th quarter valued at $134,000. 80.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PNC Financial Services Group Inc (NYSE PNC) opened at $159.08 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a 1 year low of $115.25 and a 1 year high of $160.81. The firm has a market capitalization of $75,244.84, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.48 and a beta of 0.93.

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 for the quarter, topping the consensus estimate 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 business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same period in the prior year, the company earned $1.97 EPS. PNC Financial Services Group’s revenue for the quarter was up 10.0% on a year-over-year basis. analysts predict that PNC Financial Services Group Inc will post 10.44 earnings per share for the current year.

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

Several analysts have recently issued reports on the company. Morgan Stanley increased their target price on PNC Financial Services Group from $165.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. BMO Capital Markets reissued a “buy” rating on shares of PNC Financial Services Group in a report on Thursday, January 25th. Oppenheimer reissued a “hold” rating on shares of PNC Financial Services Group in a report on Tuesday, January 16th. Argus increased their target price on PNC Financial Services Group to $170.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, Royal Bank of Canada increased their target price on PNC Financial Services Group to $170.00 and gave the stock an “average” rating in a report on Friday, January 12th. Eighteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $145.98.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $140.98, for a total transaction of $704,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Hannon sold 8,011 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total value of $1,235,296.20. Following the sale, the insider now owns 58,820 shares of the company’s stock, valued at $9,070,044. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,894 shares of company stock valued at $14,897,513. 0.43% of the stock is owned by corporate insiders.

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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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