The PNC Financial Services Group, Inc. (NYSE:PNC) Stock Position Decreased by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares during the period. Morse Asset Management Inc bought a new stake in The PNC Financial Services Group during the third quarter worth about $481,000. Wealthquest Corp bought a new position in shares of The PNC Financial Services Group in the third quarter worth about $212,000. Wilmington Savings Fund Society FSB raised its holdings in The PNC Financial Services Group by 86.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider’s stock worth $6,367,000 after purchasing an additional 15,962 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in The PNC Financial Services Group by 3.7% in the third quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock valued at $2,631,000 after buying an additional 509 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 0.8 %

NYSE:PNC opened at $159.80 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $63.24 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.55 and a beta of 1.04. The firm has a fifty day simple moving average of $169.06 and a two-hundred day simple moving average of $188.12.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) 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 firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. Analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 45.20%.

Analyst Upgrades and Downgrades

Several research firms have commented on PNC. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays decreased their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada reduced their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Citigroup reduced 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 report on Monday, March 24th. Finally, The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $200.88.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the transaction, the chief executive officer now owns 562,291 shares in the company, valued at $84,624,795.50. The trade was a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 13,061 shares of company stock worth $2,274,222 in the last 90 days. 0.41% of the stock is owned by company insiders.

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.