OMERS ADMINISTRATION Corp Purchases 2,765 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

OMERS ADMINISTRATION Corp boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 20.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,571 shares of the financial services provider's stock after purchasing an additional 2,765 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in The PNC Financial Services Group were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PNC. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. lifted its stake in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of 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 Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $192.45, for a total transaction of $239,022.90. Following the sale, the chief executive officer now owns 571,025 shares in the company, valued at approximately $109,893,761.25. This represents a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now owns 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,396 shares of company stock worth $2,789,603. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada reduced their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group lowered 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 note on Wednesday, April 16th. HSBC raised shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Truist Financial lowered their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $202.67.

The PNC Financial Services Group Stock Down 0.0%

Shares of PNC stock traded down $0.01 on Friday, hitting $179.45. 2,215,742 shares of the stock were exchanged, compared to its average volume of 2,050,969. The business has a 50-day moving average of $164.86 and a 200 day moving average of $186.20. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm has a market capitalization of $70.98 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

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 analysts' consensus estimates 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 firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Wednesday, April 16th. 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.