O Shaughnessy Asset Management LLC Increases Stake in The PNC Financial Services Group, Inc $PNC

O Shaughnessy Asset Management LLC lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 157,941 shares of the financial services provider’s stock after purchasing an additional 2,277 shares during the period. O Shaughnessy Asset Management LLC’s holdings in The PNC Financial Services Group were worth $32,967,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in The PNC Financial Services Group in the third quarter worth approximately $25,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $29,000. Beacon Financial Strategies CORP purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $35,000. JPL Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $37,000. Finally, Financial Life Planners purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth $39,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNC has been the topic of several recent analyst reports. Truist Financial increased their target price on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a report on Thursday, April 16th. Barclays upped their price objective on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Citigroup increased their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 8th. Morgan Stanley raised their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Bank of America boosted their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $243.11.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction 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 sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $227.02 on Tuesday. The stock’s 50-day moving average price is $218.55 and its 200 day moving average price is $214.93. The company has a quick ratio of 0.82, a current ratio of 0.83 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 price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The PNC Financial Services Group’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.51 EPS. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

About The PNC Financial Services Group

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.