Teacher Retirement System of Texas lowered its position in PNC Financial Services Group Inc. (NYSE:PNC) by 64.9% during the second quarter, Holdings Channel reports. The fund owned 35,867 shares of the company’s stock after selling 66,442 shares during the period. Teacher Retirement System of Texas’ holdings in PNC Financial Services Group were worth $2,919,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PNC. AMP Capital Investors Ltd increased its stake in PNC Financial Services Group by 12.8% in the first quarter. AMP Capital Investors Ltd now owns 415,678 shares of the company’s stock worth $35,477,000 after buying an additional 47,014 shares during the last quarter. RNC Capital Management LLC increased its stake in PNC Financial Services Group by 0.5% in the second quarter. RNC Capital Management LLC now owns 222,243 shares of the company’s stock worth $18,088,000 after buying an additional 1,150 shares during the last quarter. Suntrust Banks Inc. increased its stake in PNC Financial Services Group by 0.3% in the second quarter. Suntrust Banks Inc. now owns 471,355 shares of the company’s stock worth $38,362,000 after buying an additional 1,600 shares during the last quarter. Natixis purchased a new stake in PNC Financial Services Group during the first quarter worth approximately $46,162,000. Finally, Dana Investment Advisors Inc. increased its stake in PNC Financial Services Group by 3.6% in the second quarter. Dana Investment Advisors Inc. now owns 154,793 shares of the company’s stock worth $12,599,000 after buying an additional 5,362 shares during the last quarter. Institutional investors and hedge funds own 80.21% of the company’s stock.

PNC Financial Services Group Inc. (NYSE:PNC) traded down 0.43% on Thursday, hitting $90.35. 1,074,644 shares of the company were exchanged. The stock has a 50 day moving average price of $87.69 and a 200 day moving average price of $85.67. The firm has a market cap of $44.40 billion, a price-to-earnings ratio of 12.46 and a beta of 0.88. PNC Financial Services Group Inc. has a one year low of $77.40 and a one year high of $97.50.

PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, July 15th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.07. The company had revenue of $3.79 billion for the quarter. PNC Financial Services Group had a net margin of 24.32% and a return on equity of 9.22%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 earnings per share. On average, equities research analysts forecast that PNC Financial Services Group Inc. will post $7.10 EPS for the current fiscal year.

PNC has been the subject of a number of research analyst reports. BMO Capital Markets upgraded PNC Financial Services Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $94.00 to $101.00 in a report on Monday. They noted that the move was a valuation call. Vetr cut shares of PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research report on Wednesday, August 31st. FBR & Co reaffirmed a “buy” rating on shares of PNC Financial Services Group in a research report on Monday, July 18th. Nomura raised shares of PNC Financial Services Group from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $95.00 to $84.00 in a research report on Thursday, July 7th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of PNC Financial Services Group in a research report on Wednesday, June 15th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company’s stock. PNC Financial Services Group currently has an average rating of “Hold” and a consensus price target of $96.50.

In other PNC Financial Services Group news, Director Daniel Hesse bought 500 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were acquired at an average cost of $82.44 per share, for a total transaction of $41,220.00. Following the transaction, the director now owns 1,100 shares in the company, valued at $90,684. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Hannon sold 33,000 shares of PNC Financial Services Group stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the sale, the insider now owns 87,573 shares in the company, valued at $7,574,188.77. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

5 Day Chart for NYSE:PNC

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