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 position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 48.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 57,482 shares of the financial services provider’s stock after acquiring 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vantage Consulting Group Inc bought a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $27,000. Better Money Decisions LLC purchased a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $28,000. Alpha DNA Investment Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $35,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $41,000. Finally, Grant Street Asset Management Inc. purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $43,000. 81.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PNC opened at $188.75 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.61. The PNC Financial Services Group, Inc. has a 12 month low of $97.09 and a 12 month high of $203.88. The firm has a 50-day simple moving average of $187.88. The company has a market cap of $80.19 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, April 15th. The financial services provider reported $4.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.75 by $1.35. The PNC Financial Services Group had a net margin of 47.97% and a return on equity of 7.54%. The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the firm earned $1.95 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.36 earnings per share for the current fiscal year.

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

Several equities research analysts have recently commented on PNC shares. Credit Suisse Group upped their price objective on The PNC Financial Services Group from $170.00 to $178.00 and gave the stock a “neutral” rating in a research note on Monday, April 19th. Evercore ISI started coverage on The PNC Financial Services Group in a research note on Wednesday, June 2nd. They issued an “outperform” rating for the company. Citigroup upped their price objective on The PNC Financial Services Group from $179.00 to $210.00 in a research note on Tuesday, April 20th. Raymond James upgraded The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a research note on Monday, May 10th. Finally, Robert W. Baird reiterated a “buy” rating on shares of The PNC Financial Services Group in a research note on Tuesday, April 20th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $179.30.

The PNC Financial Services Group Company 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.

Featured Article: How is a buy-side analyst different from a sell-side analyst?

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc. (NYSE:PNC).

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

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.