42,019 Shares in The PNC Financial Services Group, Inc $PNC Purchased by OP Asset Management Ltd

OP Asset Management Ltd purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 42,019 shares of the financial services provider’s stock, valued at approximately $8,744,000.

Several other institutional investors also recently bought and sold shares of PNC. Cvfg LLC raised its holdings in shares of The PNC Financial Services Group by 2.5% during the fourth quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 43 shares during the last quarter. YANKCOM Partnership boosted its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 46 shares during the last quarter. Westfuller Advisors LLC increased its position in shares of The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 46 shares in the last quarter. Atom Investors LP increased its position in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 46 shares in the last quarter. Finally, Baron Wealth Management LLC raised its stake in The PNC Financial Services Group by 3.0% in the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 46 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PNC has been the topic of a number of research reports. Oppenheimer raised their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, April 16th. Truist Financial upped their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Barclays increased their target price on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.72.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the business’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 transaction, the director directly owned 10,749 shares in the company, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was 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. This represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 48,300 shares of company stock worth $10,694,574. Insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $244.91 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s fifty day moving average is $224.07 and its two-hundred day moving average is $218.93. The firm has a market capitalization of $98.35 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $249.01.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period last year, the company earned $3.51 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 18.81 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors 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 dividend on an annualized basis and a dividend yield of 2.8%. The PNC Financial Services Group’s dividend payout ratio is currently 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.