Teacher Retirement System of Texas Purchases 51,206 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Teacher Retirement System of Texas raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 42.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,035 shares of the financial services provider’s stock after purchasing 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 Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after purchasing an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 8,735 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock valued at $30,202,000 after purchasing an additional 3,100 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at about $346,000. Finally, Truist Financial Corp boosted its holdings in shares of The PNC Financial Services Group by 1.4% during the 4th quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock valued at $218,429,000 after purchasing an additional 15,246 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays increased their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Compass Point increased their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $203.71.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $192.15, for a total transaction of $238,650.30. Following the transaction, the chief executive officer now directly owns 527,555 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 12,420 shares of company stock worth $2,369,165. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $173.42 on Friday. The firm has a market cap of $68.63 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The firm’s 50 day simple moving average is $190.35 and its 200-day simple moving average is $192.30. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. 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) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.16 earnings per share. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.69%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

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.