New Mexico Educational Retirement Board Lowers Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

New Mexico Educational Retirement Board reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,999 shares of the financial services provider’s stock after selling 500 shares during the period. New Mexico Educational Retirement Board’s holdings in The PNC Financial Services Group were worth $3,664,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $25,000. Richardson Financial Services Inc. raised its position in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the period. 83.53% of the stock is owned by institutional investors.

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 that occurred on Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the completion of the sale, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at approximately $115,298,577.65. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 13,662 shares of company stock valued at $2,730,549 over the last three months. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $193.91 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average is $197.11 and its 200 day moving average is $191.02. The stock has a market capitalization of $76.94 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.16 earnings per share. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.30%. The PNC Financial Services Group’s payout ratio is 46.55%.

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.