Osmosis Investment Management UK Ltd Makes New Investment in The PNC Financial Services Group, Inc $PNC

Osmosis Investment Management UK Ltd purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, Holdings Channel reports. The firm purchased 14,373 shares of the financial services provider’s stock, valued at approximately $3,539,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PNC. Monetary Solutions Ltd purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Quarry LP purchased a new position in The PNC Financial Services Group during the 3rd quarter worth $25,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $28,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $29,000. Finally, Financial Life Planners purchased a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PNC. Stephens lifted their price objective on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. Oppenheimer increased their price target on The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Truist Financial boosted their price objective on The PNC Financial Services Group from $257.00 to $264.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Finally, Citigroup upped their target price on The PNC Financial Services Group from $280.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $265.73.

The PNC Financial Services Group Stock Down 0.0%

PNC opened at $243.05 on Monday. The company has a market cap of $96.96 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $258.96. The company has a 50-day moving average price of $248.28 and a 200 day moving average price of $229.35. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the previous year, the firm posted $3.85 EPS. The PNC Financial Services Group’s revenue was up 21.4% compared to the same quarter last year. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, July 20th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s payout ratio is 44.03%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares of the company’s stock, valued at $710,664.11. The trade was a 36.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 51,654 shares of company stock worth $11,552,661. Company insiders own 0.38% of the company’s stock.

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.