Grantham Mayo Van Otterloo & Co. LLC Purchases 39,244 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 671.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,086 shares of the financial services provider’s stock after purchasing an additional 39,244 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in The PNC Financial Services Group were worth $8,695,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PNC. Principal Financial Group Inc. raised its position in shares of The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after buying an additional 22,271 shares in the last quarter. Morse Asset Management Inc bought a new stake in The PNC Financial Services Group during the third quarter worth approximately $481,000. Quarry LP raised its position in The PNC Financial Services Group by 43.8% during the third quarter. Quarry LP now owns 417 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 127 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of The PNC Financial Services Group by 45.5% in the 3rd quarter. Quantinno Capital Management LP now owns 23,760 shares of the financial services provider’s stock worth $4,392,000 after purchasing an additional 7,428 shares during the period. Finally, EP Wealth Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 37.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 5,119 shares of the financial services provider’s stock worth $946,000 after purchasing an additional 1,394 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PNC. Stephens restated an “equal weight” rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. The Goldman Sachs Group lowered their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Compass Point lifted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Finally, Truist Financial dropped their target price on The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $205.18.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the sale, the chief executive officer now directly owns 522,587 shares in the company, valued at approximately $105,620,058.57. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 12,420 shares of company stock worth $2,320,739 over the last quarter. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Down 5.2 %

NYSE:PNC opened at $152.85 on Monday. The firm has a 50-day simple moving average of $184.93 and a 200-day simple moving average of $191.80. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The firm has a market cap of $60.49 billion, a P/E ratio of 11.12, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.16 earnings per share. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is currently 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.