The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 owned 0.08% of The PNC Financial Services Group worth $64,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Loomis Sayles & Co. L P grew its stake in The PNC Financial Services Group by 8.7% during the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after buying an additional 50 shares during the period. Baltimore Washington Financial Advisors Inc. grew its stake in The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after buying an additional 51 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after buying an additional 53 shares during the period. MFA Wealth Advisors LLC grew its stake in The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after buying an additional 55 shares during the period. Finally, Resonant Capital Advisors LLC grew its stake in The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.8 %

Shares of NYSE:PNC opened at $193.91 on Friday. The stock has a market capitalization of $76.94 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company’s fifty day moving average is $197.40 and its two-hundred day moving average is $190.93. 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 released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 analysts’ expectations 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.16 EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.3 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 given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.30%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $216.01, for a total transaction of $268,284.42. Following the sale, the chief executive officer now directly owns 533,765 shares of the company’s stock, valued at $115,298,577.65. The trade was a 0.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 13,662 shares of company stock worth $2,730,549. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of several analyst reports. Truist Financial upped their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Compass Point upped their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $205.00.

About The PNC Financial Services Group

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.