Teacher Retirement System of Texas Has $33.18 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Teacher Retirement System of Texas lifted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 42.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 172,035 shares of the financial services provider's stock after acquiring an additional 51,206 shares during the period. Teacher Retirement System of Texas' holdings in The PNC Financial Services Group were worth $33,177,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Sandy Spring Bank lifted its stake in The PNC Financial Services Group by 1.4% during the fourth quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider's stock worth $945,000 after purchasing an additional 67 shares during the period. Royal London Asset Management Ltd. lifted its position in shares of The PNC Financial Services Group by 0.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 356,103 shares of the financial services provider's stock worth $68,674,000 after buying an additional 1,851 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of The PNC Financial Services Group by 161.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,425 shares of the financial services provider's stock valued at $468,000 after purchasing an additional 1,499 shares in the last quarter. Brooklyn FI LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $410,000. Finally, Enhancing Capital LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at about $238,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the sale, the chief executive officer now owns 527,555 shares of the company's stock, valued at $101,369,693.25. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 13,662 shares of company stock valued at $2,582,789. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Trading Up 0.2 %

Shares of The PNC Financial Services Group stock traded up $0.30 during trading on Tuesday, reaching $176.84. 2,035,865 shares of the company were exchanged, compared to its average volume of 1,761,982. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The business has a 50-day moving average price of $189.70 and a 200-day moving average price of $192.31. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $69.98 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.16 EPS. Sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PNC shares. Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an "underweight" rating in a research note on Friday, January 17th. Citigroup lowered 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. Finally, Truist Financial upped their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $201.65.

The PNC Financial Services Group Company 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.