TIAA Trust National Association Purchases 59,183 Shares of The PNC Financial Services Group, Inc $PNC

TIAA Trust National Association grew its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 332.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,995 shares of the financial services provider’s stock after buying an additional 59,183 shares during the period. TIAA Trust National Association’s holdings in The PNC Financial Services Group were worth $16,071,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares in the last quarter. State Street Corp boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. State Street Corp now owns 17,242,132 shares of the financial services provider’s stock valued at $3,464,462,000 after buying an additional 85,291 shares in the last quarter. Capital International Investors boosted its holdings in shares of The PNC Financial Services Group by 10.2% in the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock valued at $2,491,819,000 after buying an additional 1,101,055 shares in the last quarter. Norges Bank bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $1,967,080,000. Finally, Geode Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock valued at $1,841,387,000 after buying an additional 30,078 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Up 1.9%

PNC stock opened at $231.51 on Wednesday. The firm has a 50 day moving average of $219.13 and a 200 day moving average of $215.28. The stock has a market capitalization of $92.97 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 52 week low of $172.73 and a 52 week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business earned $3.51 EPS. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the completion of the sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Keefe, Bruyette & Woods raised their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target on the stock. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Finally, Oppenheimer lifted their target price on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $243.11.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.