Teacher Retirement System of Texas lowered its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 13.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,862 shares of the financial services provider's stock after selling 23,173 shares during the quarter. Teacher Retirement System of Texas' holdings in The PNC Financial Services Group were worth $26,165,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after acquiring an additional 984 shares in the last quarter. Fisher Asset Management LLC boosted its stake in The PNC Financial Services Group by 4.0% during the 4th quarter. Fisher Asset Management LLC now owns 3,737 shares of the financial services provider's stock valued at $721,000 after purchasing an additional 143 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $191,000. Steward Partners Investment Advisory LLC increased its position in shares of The PNC Financial Services Group by 40.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,674 shares of the financial services provider's stock valued at $3,023,000 after purchasing an additional 4,515 shares during the period. Finally, Cookson Peirce & Co. Inc. raised its stake in shares of The PNC Financial Services Group by 209.4% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 5,690 shares of the financial services provider's stock worth $1,097,000 after buying an additional 3,851 shares in the last quarter. Institutional investors own 83.53% of the company's stock.
Insider Buying and Selling at The PNC Financial Services Group
In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $179.14, for a total value of $222,491.88. Following the completion of the sale, the chief executive officer directly owned 556,121 shares of the company's stock, valued at $99,623,515.94. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the transaction, the executive vice president directly owned 20,490 shares in the company, valued at $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,787 shares of company stock valued at $1,782,794 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.
The PNC Financial Services Group Trading Down 0.3%
The PNC Financial Services Group stock traded down $0.61 during midday trading on Friday, reaching $195.10. The stock had a trading volume of 1,863,484 shares, compared to its average volume of 2,113,925. The firm's fifty day simple moving average is $175.83 and its two-hundred day simple moving average is $179.98. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The firm has a market cap of $77.18 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.66 and a beta of 1.07.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The business had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.
The PNC Financial Services Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.70 per share. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 3.49%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Wells Fargo & Company lowered their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Royal Bank Of Canada dropped their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.35.
Check Out Our Latest Research Report on The PNC Financial Services Group
The PNC Financial Services Group Profile
(
Free Report)
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.
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