State Board of Administration of Florida Retirement System lifted its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 674,834 shares of the financial services provider’s stock after acquiring an additional 11,294 shares during the period. State Board of Administration of Florida Retirement System owned 0.14% of PNC Financial Services Group worth $91,170,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of PNC Financial Services Group by 17.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 187,294 shares of the financial services provider’s stock valued at $25,303,000 after acquiring an additional 27,210 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of PNC Financial Services Group by 12.3% in the 1st quarter. Wesbanco Bank Inc. now owns 80,250 shares of the financial services provider’s stock valued at $12,137,000 after acquiring an additional 8,777 shares during the last quarter. Perpetual Ltd lifted its holdings in shares of PNC Financial Services Group by 58.7% in the 2nd quarter. Perpetual Ltd now owns 2,163 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 800 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of PNC Financial Services Group by 7.3% in the 1st quarter. Synovus Financial Corp now owns 9,881 shares of the financial services provider’s stock valued at $1,496,000 after acquiring an additional 673 shares during the last quarter. Finally, Banque Pictet & Cie SA lifted its holdings in shares of PNC Financial Services Group by 6.7% in the 1st quarter. Banque Pictet & Cie SA now owns 11,685 shares of the financial services provider’s stock valued at $1,767,000 after acquiring an additional 733 shares during the last quarter. 80.98% of the stock is owned by hedge funds and other institutional investors.

Separately, Bank of America increased their price target on shares of PNC Financial Services Group from $166.00 to $168.00 and gave the company a “buy” rating in a report on Friday, May 4th. Eighteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $150.87.

In other news, EVP Wyk Steven C. Van sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $141.09, for a total transaction of $2,116,350.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Hannon sold 5,247 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total transaction of $741,820.86. Following the transaction, the insider now directly owns 58,239 shares in the company, valued at $8,233,829.82. The disclosure for this sale can be found here. Insiders sold a total of 34,247 shares of company stock worth $4,830,351 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

PNC Financial Services Group opened at $143.55 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.91. PNC Financial Services Group Inc has a 1-year low of $119.77 and a 1-year high of $163.59. The stock has a market capitalization of $67.43 billion, a P/E ratio of 15.13, a PEG ratio of 1.32 and a beta of 0.94.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 6th. Investors of record on Tuesday, July 17th were given a $0.95 dividend. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.75. This represents a $3.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Monday, July 16th. PNC Financial Services Group’s dividend payout ratio is 44.71%.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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