Texas Permanent School Fund Corp Has $980,000 Stake in Provident Financial Services, Inc. (NYSE:PFS)

The Texas Permanent School Fund Corporation (PSFC) is a state-owned investment fund that manages the endowment of public schools in Texas. As of 2021, the PSFC has a $980,000 stake in Provident Financial Services, Inc. (PFS), a publicly traded financial services company headquartered in New York City.

Provident Financial Services, Inc. is a diversified financial services company that operates through three segments: insurance and annuities, asset management, and banking. The company provides a range of financial products and services to individuals, businesses, and institutions, including life insurance, annuities, mutual funds, exchange-traded funds (ETFs), and bank deposits.

The PSFC's investment in PFS is part of its broader diversified investment portfolio, which includes investments in a range of asset classes such as stocks, bonds, real estate, and private equity. The PSFC invests the endowment funds of Texas public schools to generate long-term returns that can be used to fund public education programs and facilities.

It's worth noting that while the PSFC has a stake in PFS, it does not have any voting rights or control over the company's operations or management. The PSFC's investment is purely financial and is subject to market risks.