O Shaughnessy Asset Management LLC Raises Position in The PNC Financial Services Group, Inc $PNC

O Shaughnessy Asset Management LLC boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,941 shares of the financial services provider’s stock after buying an additional 2,277 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in The PNC Financial Services Group were worth $32,967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNC. US Bancorp DE raised its stake in The PNC Financial Services Group by 13.4% during the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after purchasing an additional 34,009 shares during the period. Vanguard Group Inc. raised its position in shares of The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after buying an additional 408,464 shares during the period. Truist Financial Corp lifted its holdings in The PNC Financial Services Group by 3.3% in the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after acquiring an additional 39,589 shares during the last quarter. Teamwork Financial Advisors LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth approximately $13,711,000. Finally, Candriam S.C.A. grew its position in The PNC Financial Services Group by 8.0% in the third quarter. Candriam S.C.A. now owns 178,811 shares of the financial services provider’s stock worth $35,928,000 after acquiring an additional 13,321 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, EVP Stephanie Novosel sold 1,800 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the sale, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. The trade was a 80.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PNC shares. Truist Financial lifted their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, April 16th. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. increased their target price on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Barclays lifted their price target on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

The PNC Financial Services Group Trading Down 0.6%

Shares of NYSE PNC opened at $227.02 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $91.17 billion, a PE ratio of 13.19, a PEG ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a twelve month low of $172.73 and a twelve month high of $243.94. The stock has a fifty day simple moving average of $218.55 and a 200-day simple moving average of $214.93.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The PNC Financial Services Group’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.51 EPS. On average, equities analysts forecast that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 39.51%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.