OFI Invest Asset Management Invests $43,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

OFI Invest Asset Management acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 231 shares of the financial services provider’s stock, valued at approximately $43,000.

Other large investors also recently modified their holdings of the company. Loomis Sayles & Co. L P grew its stake in shares of The PNC Financial Services Group by 8.7% in the third quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after buying an additional 50 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 3.1% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after buying an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after buying an additional 53 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after buying an additional 55 shares in the last quarter. Finally, Altman Advisors Inc. grew its stake in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 56 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Piper Sandler increased their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley increased their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Citigroup raised their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Compass Point raised their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $205.00.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the sale, the chief executive officer now owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 12,420 shares of company stock valued at $2,421,788. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $174.58 on Tuesday. The firm has a market cap of $69.09 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.55 and a beta of 1.13. The stock has a 50 day moving average of $193.84 and a 200-day moving average of $192.95. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.16 EPS. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

About The PNC Financial Services Group

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 segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.