Assenagon Asset Management S.A. Has $84.67 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Assenagon Asset Management S.A. trimmed its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 37.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 439,049 shares of the financial services provider's stock after selling 263,335 shares during the period. Assenagon Asset Management S.A. owned approximately 0.11% of The PNC Financial Services Group worth $84,671,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC boosted its position 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 acquiring an additional 8,735 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider's stock worth $1,185,000 after purchasing an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new stake in The PNC Financial Services Group during the third quarter valued at approximately $12,548,000. Bleakley Financial Group LLC grew its stake in shares of The PNC Financial Services Group by 9.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider's stock valued at $2,913,000 after purchasing an additional 1,299 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter worth approximately $822,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the firm's stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the sale, the chief executive officer now directly owns 526,313 shares of the company's stock, valued at approximately $101,515,251.44. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,272 shares of company stock valued at $6,164,890 over the last three months. Company insiders own 0.42% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PNC shares. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Evercore ISI upped their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Truist Financial began coverage on shares of The PNC Financial Services Group in a research note on Tuesday, January 7th. They issued a "hold" rating and a $215.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $203.29.

The PNC Financial Services Group Trading Down 2.1 %

PNC stock traded down $4.21 during midday trading on Thursday, reaching $196.23. The stock had a trading volume of 5,064,552 shares, compared to its average volume of 2,446,765. The firm has a market cap of $77.86 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.77 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $201.65 and a two-hundred day simple moving average of $186.67.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the previous year, the company earned $3.16 EPS. The PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.26%. The PNC Financial Services Group's dividend payout ratio is currently 54.10%.

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.