Teacher Retirement System of Texas Purchases 18,833 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Teacher Retirement System of Texas grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 48.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,482 shares of the financial services provider’s stock after purchasing an additional 18,833 shares during the quarter. Teacher Retirement System of Texas’ holdings in The PNC Financial Services Group were worth $10,083,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vantage Consulting Group Inc bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $27,000. Better Money Decisions LLC bought a new position in shares of The PNC Financial Services Group in the first quarter valued at approximately $28,000. Alpha DNA Investment Management LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $35,000. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $41,000. Finally, Grant Street Asset Management Inc. bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $43,000. Institutional investors own 81.56% of the company’s stock.

NYSE:PNC opened at $188.75 on Friday. The company has a market capitalization of $80.19 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The PNC Financial Services Group, Inc. has a 52-week low of $97.09 and a 52-week high of $203.88. The company’s fifty day simple moving average is $187.88. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.61.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, April 15th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $1.35. The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.10 billion. The PNC Financial Services Group had a return on equity of 7.54% and a net margin of 47.97%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the company earned $1.95 earnings per share. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.36 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 5th. Investors of record on Friday, April 16th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, April 15th. The PNC Financial Services Group’s dividend payout ratio is 72.33%.

A number of brokerages recently commented on PNC. Credit Suisse Group increased their price target on The PNC Financial Services Group from $170.00 to $178.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. Stephens increased their price target on The PNC Financial Services Group from $190.00 to $195.00 and gave the company an “equal weight” rating in a research report on Monday, April 19th. Robert W. Baird reaffirmed a “buy” rating on shares of The PNC Financial Services Group in a research report on Tuesday, April 20th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on The PNC Financial Services Group from $179.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, April 20th. Finally, Royal Bank of Canada increased their price target on The PNC Financial Services Group from $161.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, April 19th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $179.30.

The PNC Financial Services Group Profile

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. The Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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

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