Ossiam Has $33.40 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Ossiam boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1,132.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,196 shares of the financial services provider's stock after purchasing an additional 159,141 shares during the period. Ossiam's holdings in The PNC Financial Services Group were worth $33,401,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PNC. Vanguard Group Inc. raised its stake in shares of The PNC Financial Services Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock valued at $7,273,794,000 after acquiring an additional 268,827 shares in the last quarter. Franklin Resources Inc. grew its position in The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock worth $2,089,622,000 after buying an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after acquiring an additional 726,115 shares during the period. Norges Bank bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $1,352,151,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of The PNC Financial Services Group by 22.5% during the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider's stock worth $746,435,000 after purchasing an additional 710,311 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 601 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total value of $96,160.00. Following the transaction, the chief executive officer now owns 563,573 shares of the company's stock, valued at approximately $90,171,680. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 12,460 shares of company stock worth $2,223,979 over the last three months. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial reduced their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley dropped their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group decreased their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of "Hold" and a consensus target price of $200.88.

The PNC Financial Services Group Price Performance

PNC traded up $3.06 during midday trading on Wednesday, hitting $157.51. The company had a trading volume of 3,145,613 shares, compared to its average volume of 1,995,854. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26. The firm's 50-day simple moving average is $171.91 and its 200-day simple moving average is $188.77. The company has a market capitalization of $62.33 billion, a PE ratio of 11.45, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. Equities research analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is 45.20%.

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.