New York State Teachers Retirement System Has $83.29 Million Position in PNC Financial Services Group Inc (PNC)

New York State Teachers Retirement System trimmed its position in PNC Financial Services Group Inc (NYSE:PNC) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 679,034 shares of the financial services provider’s stock after selling 9,784 shares during the quarter. New York State Teachers Retirement System’s holdings in PNC Financial Services Group were worth $83,290,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in PNC Financial Services Group in the first quarter valued at $25,000. Field & Main Bank bought a new stake in PNC Financial Services Group in the first quarter valued at $25,000. Executive Wealth Management LLC bought a new stake in PNC Financial Services Group in the fourth quarter valued at $29,000. Transamerica Financial Advisors Inc. bought a new stake in PNC Financial Services Group in the fourth quarter valued at $36,000. Finally, Athena Capital Advisors LLC bought a new stake in PNC Financial Services Group in the fourth quarter valued at $37,000. 82.67% of the stock is currently owned by institutional investors.

Shares of PNC stock traded up $2.34 during mid-day trading on Thursday, reaching $131.02. 20,126 shares of the company’s stock traded hands, compared to its average volume of 2,248,804. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $152.25. The stock has a market cap of $58.36 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.49 and a beta of 1.09. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23.

PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.61. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. The firm had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business posted $2.43 EPS. On average, sell-side analysts forecast that PNC Financial Services Group Inc will post 11.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Tuesday, April 16th were issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Monday, April 15th. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 35.48%.

Several analysts recently weighed in on the stock. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. Morgan Stanley lifted their price target on shares of PNC Financial Services Group from $138.00 to $142.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Barclays lifted their price target on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Zacks Investment Research cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. Finally, Macquarie upgraded shares of PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a report on Wednesday, March 6th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $143.63.

In other news, insider Joseph E. Rockey sold 6,000 shares of PNC Financial Services Group stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the transaction, the insider now owns 24,747 shares of the company’s stock, valued at approximately $3,340,845. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Martin Pfinsgraff purchased 500 shares of the stock in a transaction dated Thursday, February 21st. The stock was bought at an average cost of $125.69 per share, with a total value of $62,845.00. The disclosure for this purchase can be found here. Insiders own 0.37% of the company’s stock.

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PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

Further Reading: Quiet Period Expirations

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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