The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Bought by Groupama Asset Managment

Groupama Asset Managment grew its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 9.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,600 shares of the financial services provider's stock after purchasing an additional 12,437 shares during the period. Groupama Asset Managment's holdings in The PNC Financial Services Group were worth $25,805,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC lifted its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 110 shares during the period. Valley Wealth Managers Inc. lifted its holdings in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after acquiring an additional 200 shares during the period. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group in the 2nd quarter worth about $33,000. GPS Wealth Strategies Group LLC bought a new stake in The PNC Financial Services Group in the second quarter valued at approximately $38,000. Finally, Capital Performance Advisors LLP bought a new position in shares of The PNC Financial Services Group in the 3rd quarter worth about $51,000. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup boosted their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, November 25th. Piper Sandler increased their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a research note on Wednesday, October 16th. Compass Point cut shares of The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Hold" and an average price target of $195.84.

The PNC Financial Services Group Stock Down 1.7 %

Shares of PNC stock traded down $3.47 on Monday, hitting $205.16. The stock had a trading volume of 588,267 shares, compared to its average volume of 1,862,715. 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 PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The business has a 50 day moving average price of $196.62 and a 200 day moving average price of $178.56. The company has a market cap of $81.40 billion, a PE ratio of 17.64, a P/E/G ratio of 2.18 and a beta of 1.15.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.12%. The PNC Financial Services Group's dividend payout ratio is presently 54.10%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $181.35, for a total transaction of $225,236.70. Following the completion of the sale, the chief executive officer now directly owns 548,491 shares of the company's stock, valued at $99,468,842.85. The trade was a 0.23 % decrease in their position. 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 that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now owns 915 shares of the company's stock, valued at $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,030 shares of company stock valued at $5,873,691. 0.42% of the stock is owned by insiders.

About The PNC Financial Services Group

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.