14,504 Shares in The PNC Financial Services Group, Inc. (NYSE:PNC) Bought by Teza Capital Management LLC

Teza Capital Management LLC purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,504 shares of the financial services provider’s stock, valued at approximately $2,797,000.

Other institutional investors also recently bought and sold shares of the company. Richardson Financial Services Inc. increased its stake in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $30,000. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Whipplewood Advisors LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $33,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley cut their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Keefe, Bruyette & Woods cut their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada cut their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.67.

The PNC Financial Services Group Price Performance

PNC opened at $179.45 on Friday. The business’s 50-day moving average is $164.86 and its two-hundred day moving average is $186.20. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 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 firm has a market capitalization of $70.98 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.57%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $190.18, for a total transaction of $236,203.56. Following the sale, the chief executive officer now owns 569,783 shares in the company, valued at $108,361,330.94. This represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares in the company, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,396 shares of company stock valued at $2,789,603. 0.41% of the stock is currently owned by corporate insiders.

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.