Ossiam Purchases 159,141 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Ossiam lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1,132.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,196 shares of the financial services provider's stock after purchasing 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.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PNC. Mechanics Financial Corp bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $541,000. AssuredPartners Investment Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $739,000. Premier Fund Managers Ltd raised its stake in The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock worth $9,511,000 after buying an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of The PNC Financial Services Group by 25.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock worth $7,739,000 after acquiring an additional 8,081 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock valued at $5,160,000 after purchasing an additional 8,735 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 601 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total transaction of $96,160.00. Following the completion of the transaction, the chief executive officer now directly owns 563,573 shares of the company's stock, valued at $90,171,680. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 12,460 shares of company stock valued at $2,223,979 over the last 90 days. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Truist Financial decreased their target price on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company decreased their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, Stephens reissued an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Hold" and an average target price of $200.88.

The PNC Financial Services Group Price Performance

PNC stock traded up $2.37 during midday trading on Thursday, reaching $159.78. 632,379 shares of the stock were exchanged, compared to its average volume of 1,990,023. 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 stock has a market capitalization of $63.23 billion, a PE ratio of 11.62, a P/E/G ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a fifty day moving average price of $171.18 and a 200 day moving average price of $188.56.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, analysts expect 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 firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. 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 4.01%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 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.