PNC Financial Services Group Inc (PNC) Position Lessened by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 23.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 130,952 shares of the financial services provider’s stock after selling 40,424 shares during the period. Teacher Retirement System of Texas’ holdings in PNC Financial Services Group were worth $18,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Macquarie Group Ltd. raised its stake in PNC Financial Services Group by 4.4% during the second quarter. Macquarie Group Ltd. now owns 91,868 shares of the financial services provider’s stock worth $11,471,000 after purchasing an additional 3,855 shares during the period. Janus Henderson Group PLC raised its stake in PNC Financial Services Group by 2,624.0% during the second quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock worth $213,239,000 after purchasing an additional 1,645,007 shares during the period. Colonial Trust Advisors increased its position in shares of PNC Financial Services Group by 49.5% in the second quarter. Colonial Trust Advisors now owns 44,584 shares of the financial services provider’s stock worth $5,567,000 after acquiring an additional 14,765 shares in the last quarter. FTB Advisors Inc. increased its position in shares of PNC Financial Services Group by 9.9% in the second quarter. FTB Advisors Inc. now owns 23,850 shares of the financial services provider’s stock worth $3,054,000 after acquiring an additional 2,145 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its position in shares of PNC Financial Services Group by 1.1% in the second quarter. Peapack Gladstone Financial Corp now owns 75,259 shares of the financial services provider’s stock worth $9,398,000 after acquiring an additional 795 shares in the last quarter. 82.24% of the stock is currently owned by institutional investors and hedge funds.

In other PNC Financial Services Group news, insider Michael J. Hannon sold 8,011 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the transaction, the insider now directly owns 58,820 shares in the company, valued at approximately $9,070,044. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $140.98, for a total transaction of $704,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 103,894 shares of company stock worth $14,897,513 over the last quarter. 0.43% of the stock is currently owned by insiders.

Shares of PNC Financial Services Group Inc (NYSE PNC) opened at $151.71 on Friday. The firm has a market cap of $71,758.84, a price-to-earnings ratio of 17.83, a P/E/G ratio of 1.42 and a beta of 0.93. PNC Financial Services Group Inc has a fifty-two week low of $115.25 and a fifty-two week high of $160.07. 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 (NYSE:PNC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $1.97 EPS. equities analysts anticipate that PNC Financial Services Group Inc will post 10.38 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Wednesday, January 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Tuesday, January 16th. PNC Financial Services Group’s payout ratio is 28.85%.

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

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PNC Financial Services Group 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.

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

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