Oxford Asset Management LLP Invests $632,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Oxford Asset Management LLP purchased a new position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,277 shares of the financial services provider's stock, valued at approximately $632,000.

Several other hedge funds have also recently modified their holdings of the business. Coldstream Capital Management Inc. increased its position in The PNC Financial Services Group by 6.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 8,438 shares of the financial services provider's stock valued at $1,627,000 after acquiring an additional 485 shares during the last quarter. Capital Analysts LLC increased its position in The PNC Financial Services Group by 10.5% during the fourth quarter. Capital Analysts LLC now owns 1,627 shares of the financial services provider's stock valued at $314,000 after acquiring an additional 155 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in The PNC Financial Services Group by 417.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 356,981 shares of the financial services provider's stock valued at $68,844,000 after acquiring an additional 288,050 shares during the last quarter. Burling Wealth Partners LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at $299,000. Finally, Evercore Wealth Management LLC increased its position in The PNC Financial Services Group by 1.8% during the fourth quarter. Evercore Wealth Management LLC now owns 8,532 shares of the financial services provider's stock valued at $1,645,000 after acquiring an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction on Monday, April 28th. The shares were sold at an average price of $160.00, for a total transaction of $96,160.00. Following the completion of the sale, the chief executive officer now directly owns 559,847 shares in the company, valued at approximately $89,575,520. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Pfinsgraff acquired 1,000 shares of the stock in a transaction dated Friday, April 25th. The shares were bought at an average price of $158.22 per share, with a total value of $158,220.00. Following the completion of the purchase, the director now directly owns 2,009 shares of the company's stock, valued at approximately $317,863.98. This trade represents a 99.11 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 13,662 shares of company stock valued at $2,370,382. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNC. Wells Fargo & Company cut 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 research note on Friday, March 28th. Morgan Stanley decreased their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Stephens restated an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. The Goldman Sachs Group decreased their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, 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 on the stock in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $200.88.

The PNC Financial Services Group Stock Up 0.3 %

NYSE:PNC traded up $0.54 during mid-day trading on Thursday, reaching $161.23. The company's stock had a trading volume of 864,504 shares, compared to its average volume of 1,997,437. 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 fifty day moving average of $167.89 and a 200-day moving average of $187.74. The firm has a market capitalization of $63.81 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.97%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

The PNC Financial Services Group 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.