New York State Teachers Retirement System Acquires 14,367 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

New York State Teachers Retirement System increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,536 shares of the financial services provider’s stock after purchasing an additional 14,367 shares during the period. New York State Teachers Retirement System’s holdings in The PNC Financial Services Group were worth $64,708,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $25,000. Richardson Financial Services Inc. raised its position in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the fourth quarter worth about $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth about $32,000. Finally, Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 13,662 shares of company stock worth $2,730,549. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC opened at $193.91 on Friday. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $197.40 and its 200-day simple moving average is $190.93. The stock has a market capitalization of $76.94 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. 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 $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm earned $3.16 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.30%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PNC shares. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Compass Point increased their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group upped their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $205.00.

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.