The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC trimmed its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 17.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,601 shares of the financial services provider's stock after selling 27,861 shares during the period. 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 quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Norges Bank purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $1,352,151,000. Schroder Investment Management Group increased its holdings in shares of The PNC Financial Services Group by 166.1% in the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock valued at $265,436,000 after acquiring an additional 860,554 shares during the period. Bank of New York Mellon Corp raised its position in The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock valued at $746,435,000 after purchasing an additional 710,311 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in The PNC Financial Services Group by 88.1% during the 3rd 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 purchasing an additional 274,186 shares during the period. Finally, Vanguard Group Inc. grew its position in The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock worth $7,273,794,000 after purchasing an additional 268,827 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred 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 owns 526,313 shares of the company's stock, valued at approximately $101,515,251.44. This represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 13,662 shares of company stock worth $2,559,389 over the last ninety days. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PNC has been the subject of several recent research reports. Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Truist Financial increased their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Barclays boosted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an "overweight" rating in a report on Monday, January 6th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price target for the stock from $206.00 to $202.00 in a report on Monday. Finally, Citigroup dropped their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Hold" and a consensus target price of $205.65.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded down $15.44 during midday trading on Thursday, reaching $161.57. 2,079,358 shares of the company traded hands, compared to its average volume of 1,888,712. The firm's 50 day simple moving average is $186.59 and its two-hundred day simple moving average is $192.07. The firm has a market cap of $63.94 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the business earned $3.16 earnings per share. The PNC Financial Services Group's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.96%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.55%.

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.