California State Teachers Retirement System Sells 30,289 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

California State Teachers Retirement System reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 613,583 shares of the financial services provider’s stock after selling 30,289 shares during the quarter. California State Teachers Retirement System’s holdings in The PNC Financial Services Group were worth $118,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Lido Advisors LLC increased its stake in shares of The PNC Financial Services Group by 6.1% during the fourth quarter. Lido Advisors LLC now owns 11,145 shares of the financial services provider’s stock valued at $2,149,000 after buying an additional 642 shares during the period. Northern Trust Corp lifted its stake in shares of The PNC Financial Services Group by 14.9% during the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after buying an additional 608,375 shares during the period. Beacon Pointe Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 2.3% in the fourth quarter. Beacon Pointe Advisors LLC now owns 17,479 shares of the financial services provider’s stock valued at $3,371,000 after purchasing an additional 398 shares during the period. Betterment LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $224,000. Finally, Oxford Asset Management LLP purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $632,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the completion of the sale, the chief executive officer now directly owns 571,025 shares of the company’s stock, valued at $109,893,761.25. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 13,061 shares of company stock valued at $2,274,222. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $159.80 on Tuesday. The firm has a market cap of $63.24 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The stock has a 50 day moving average of $169.06 and a 200-day moving average of $188.12. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.01%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Analyst Ratings Changes

PNC has been the topic of a number of recent analyst reports. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. 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 for the company in a research note on Wednesday, April 16th. Morgan Stanley lowered 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 report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Finally, Barclays dropped their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $200.88.

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 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.