State of Alaska Department of Revenue grew its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 259.9% during the fourth quarter, HoldingsChannel reports. The firm owned 56,197 shares of the financial services provider’s stock after acquiring an additional 40,582 shares during the period. State of Alaska Department of Revenue’s holdings in PNC Financial Services Group were worth $8,107,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in PNC Financial Services Group by 12.5% in the second quarter. Tower Research Capital LLC TRC now owns 821 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 91 shares in the last quarter. Atlantic Trust LLC acquired a new position in PNC Financial Services Group in the second quarter worth $129,000. Legacy Advisors LLC acquired a new position in PNC Financial Services Group in the third quarter worth $136,000. Capital Guardian Trust Co. acquired a new position in PNC Financial Services Group in the third quarter worth $154,000. Finally, Zions Bancorporation boosted its stake in PNC Financial Services Group by 3,170.0% in the third quarter. Zions Bancorporation now owns 1,308 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 1,268 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

PNC has been the topic of a number of recent analyst reports. Deutsche Bank reissued a “hold” rating and issued a $136.00 price objective (up previously from $130.00) on shares of PNC Financial Services Group in a research note on Tuesday, September 26th. Nomura boosted their price objective on PNC Financial Services Group from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. Instinet reissued a “neutral” rating and issued a $132.00 price objective (up previously from $129.00) on shares of PNC Financial Services Group in a research note on Saturday, September 30th. Robert W. Baird reaffirmed a “buy” rating and set a $135.00 price target on shares of PNC Financial Services Group in a research note on Sunday, October 1st. Finally, Zacks Investment Research lowered PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Eighteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $144.02.

PNC Financial Services Group Inc (NYSE PNC) opened at $155.25 on Friday. The stock has a market capitalization of $73,870.00, a price-to-earnings ratio of 14.88, a PEG ratio of 1.47 and a beta of 0.90. 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 Inc has a one year low of $115.25 and a one year high of $156.15.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.09. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. PNC Financial Services Group had a return on equity of 9.52% and a net margin of 29.60%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.97 earnings per share. analysts forecast that PNC Financial Services Group Inc will post 10.21 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Wednesday, January 17th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. PNC Financial Services Group’s dividend payout ratio is presently 28.76%.

In related news, insider Michael J. Hannon sold 8,011 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 58,820 shares in the company, valued at $9,070,044. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider E William Parsley III sold 46,307 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $143.43, for a total value of $6,641,813.01. Following the completion of the sale, the insider now owns 132,544 shares of the company’s stock, valued at approximately $19,010,785.92. The disclosure for this sale can be found here. Insiders sold 111,534 shares of company stock valued at $15,952,465 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “PNC Financial Services Group Inc (PNC) Holdings Boosted by State of Alaska Department of Revenue” was first published by Watch List News and is owned by of Watch List News. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://www.watchlistnews.com/pnc-financial-services-group-inc-pnc-holdings-boosted-by-state-of-alaska-department-of-revenue/1815472.html.

PNC Financial Services Group Company Profile

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.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

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

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.