The PNC Financial Services Group, Inc. (NYSE:PNC) Holdings Lowered by California State Teachers Retirement System

California State Teachers Retirement System lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 613,583 shares of the financial services provider's stock after selling 30,289 shares during the period. California State Teachers Retirement System owned 0.16% of The PNC Financial Services Group worth $118,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its holdings 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 valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of the business's stock in a transaction dated Friday, April 25th. The shares were bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. This represents a 99.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $190.18, for a total value of $236,203.56. Following the completion of the transaction, the chief executive officer now directly owns 569,783 shares of the company's stock, valued at $108,361,330.94. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,420 shares of company stock worth $2,119,361 in the last three months. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PNC. Barclays decreased their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. The Goldman Sachs Group cut their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Stephens restated an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Citigroup cut their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, The PNC Financial Services Group has an average rating of "Hold" and an average price target of $200.88.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $4.55 during trading on Friday, reaching $165.54. The stock had a trading volume of 1,764,781 shares, compared to its average volume of 2,006,410. The firm's 50 day moving average price is $167.37 and its two-hundred day moving average price is $187.55. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The stock has a market cap of $65.51 billion, a PE ratio of 12.04, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

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 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

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.