Grandview Asset Management LLC Buys New Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Grandview Asset Management LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,182 shares of the financial services provider's stock, valued at approximately $1,192,000.

Several other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider's stock valued at $99,262,000 after purchasing an additional 532,871 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider's stock valued at $129,836,000 after buying an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of The PNC Financial Services Group by 152.2% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider's stock worth $71,163,000 after buying an additional 276,200 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position 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 valued at $108,217,000 after purchasing an additional 274,186 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider's stock worth $209,962,000 after acquiring an additional 262,654 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company lifted 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 research note on Friday, November 15th. Piper Sandler lifted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a report on Wednesday, October 16th. Finally, Stephens increased their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Hold" and an average target price of $203.29.

The PNC Financial Services Group Stock Up 1.8 %

Shares of PNC stock traded up $3.38 during mid-day trading on Tuesday, reaching $195.81. 1,732,428 shares of the company were exchanged, compared to its average volume of 1,996,331. The company has a market capitalization of $77.69 billion, a P/E ratio of 16.55, a P/E/G ratio of 2.11 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The business's 50 day simple moving average is $201.61 and its 200 day simple moving average is $186.29.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the business earned $3.60 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.27%. The PNC Financial Services Group's dividend payout ratio (DPR) is 54.10%.

Insider Transactions at The PNC Financial Services Group

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

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.