Tiaa Fsb Sells 866 Shares of PNC Financial Services Group Inc (PNC)

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Tiaa Fsb lowered its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,898 shares of the financial services provider’s stock after selling 866 shares during the period. Tiaa Fsb’s holdings in PNC Financial Services Group were worth $3,545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. Oregon Public Employees Retirement Fund boosted its stake in shares of PNC Financial Services Group by 11,450.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,000,055 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 5,948,109 shares in the last quarter. Norges Bank acquired a new stake in shares of PNC Financial Services Group in the 4th quarter valued at $550,507,000. FMR LLC boosted its stake in shares of PNC Financial Services Group by 32.7% in the 4th quarter. FMR LLC now owns 10,859,988 shares of the financial services provider’s stock valued at $1,269,641,000 after purchasing an additional 2,677,895 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of PNC Financial Services Group by 38.0% in the 3rd quarter. Clearbridge Investments LLC now owns 1,915,660 shares of the financial services provider’s stock valued at $260,894,000 after purchasing an additional 527,145 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of PNC Financial Services Group by 13.7% in the 4th quarter. American Century Companies Inc. now owns 3,996,313 shares of the financial services provider’s stock valued at $467,209,000 after purchasing an additional 481,885 shares in the last quarter. Hedge funds and other institutional investors own 82.27% of the company’s stock.

Several brokerages have recently commented on PNC. Barclays boosted their target price on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a research note on Monday. Morgan Stanley boosted their target price on shares of PNC Financial Services Group from $138.00 to $142.00 and gave the company an “equal weight” rating in a research note on Monday. Zacks Investment Research downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Macquarie upgraded shares of PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, March 6th. Finally, UBS Group set a $133.00 price target on shares of PNC Financial Services Group and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $145.66.

In other PNC Financial Services Group news, EVP Robert Q. Reilly sold 12,361 shares of the business’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $122.50, for a total transaction of $1,514,222.50. Following the completion of the sale, the executive vice president now directly owns 118,671 shares of the company’s stock, valued at approximately $14,537,197.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Hannon sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $124.82, for a total value of $624,100.00. Following the sale, the insider now directly owns 53,239 shares of the company’s stock, valued at $6,645,291.98. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

Shares of NYSE PNC opened at $133.15 on Wednesday. The stock has a market cap of $59.45 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.90 and a current ratio of 0.91. PNC Financial Services Group Inc has a 12-month low of $108.45 and a 12-month high of $152.29.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.61. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.24 billion. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. During the same quarter in the prior year, the company earned $2.43 EPS. On average, sell-side analysts forecast that PNC Financial Services Group Inc will post 11.3 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Investors of record on Tuesday, April 16th will be given a dividend of $0.95 per share. The ex-dividend date is Monday, April 15th. This represents a $3.80 annualized dividend and a yield of 2.85%. PNC Financial Services Group’s dividend payout ratio (DPR) is 35.48%.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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

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