University of Texas Texas AM Investment Management Co. Sells 14,959 Shares of The PNC Financial Services Group, Inc $PNC

University of Texas Texas AM Investment Management Co. lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 69.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,709 shares of the financial services provider’s stock after selling 14,959 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in The PNC Financial Services Group were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Modus Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $29,000. Beacon Financial Strategies CORP acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $35,000. JPL Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the third quarter valued at approximately $37,000. Finally, Financial Life Planners purchased a new position in The PNC Financial Services Group in the third quarter worth $39,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PNC has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They set a “buy” rating and a $250.00 price objective for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. Oppenheimer increased their price objective on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.72.

The PNC Financial Services Group Trading Down 3.2%

Shares of The PNC Financial Services Group stock opened at $230.01 on Tuesday. The stock has a market cap of $92.36 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92. The firm has a fifty day moving average price of $221.21 and a 200 day moving average price of $216.56. The PNC Financial Services Group, Inc has a 1 year low of $172.88 and a 1 year high of $243.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $3.51 EPS. Equities research analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

Insider Activity at The PNC Financial Services Group

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 on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is owned by insiders.

The PNC Financial Services Group Company 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.