Ossiam Has $33.40 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ossiam grew its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1,132.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,196 shares of the financial services provider’s stock after acquiring an additional 159,141 shares during the period. Ossiam’s holdings in The PNC Financial Services Group were worth $33,401,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. increased its holdings in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group during the fourth quarter worth $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on 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 owns 522,587 shares in the company, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders have sold 11,819 shares of company stock worth $2,127,508. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PNC. JPMorgan Chase & Co. cut their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada decreased their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods dropped their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday. Truist Financial lowered their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $200.88.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $152.05 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market capitalization of $60.17 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $173.63 and its 200 day simple moving average is $189.09.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.21%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 45.20%.

The PNC Financial Services Group Company Profile

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.