O Shaughnessy Asset Management LLC Sells 27,861 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

O Shaughnessy Asset Management LLC lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 17.4% in the 4th quarter, HoldingsChannel reports. The firm owned 132,601 shares of the financial services provider’s stock after selling 27,861 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in The PNC Financial Services Group were worth $25,572,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock worth $420,621,000 after purchasing an additional 22,271 shares during the period. CreativeOne Wealth LLC grew its stake in shares of The PNC Financial Services Group by 81.2% during the third quarter. CreativeOne Wealth LLC now owns 4,708 shares of the financial services provider’s stock valued at $870,000 after buying an additional 2,110 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of The PNC Financial Services Group by 88.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock worth $108,217,000 after buying an additional 274,186 shares during the period. Ironwood Investment Counsel LLC bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at about $211,000. Finally, Encompass More Asset Management purchased a new stake in The PNC Financial Services Group during the 3rd quarter valued at about $201,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNC has been the subject of several recent research reports. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Piper Sandler raised their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial upped their price objective on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Citigroup dropped their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $204.25.

Insider Transactions 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, March 21st. The shares were sold at an average price of $172.00, for a total value of $213,624.00. Following the transaction, the chief executive officer now owns 566,057 shares in the company, valued at $97,361,804. The trade was a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 12,420 shares of company stock valued at $2,342,313. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $171.83 on Monday. 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 company’s fifty day moving average price is $187.91 and its 200-day moving average price is $192.21. The stock has a market cap of $68.00 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the company earned $3.16 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

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.