Groupama Asset Managment Increases Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Groupama Asset Managment raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 186.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 399,305 shares of the financial services provider’s stock after acquiring an additional 259,705 shares during the quarter. Groupama Asset Managment owned approximately 0.10% of The PNC Financial Services Group worth $76,878,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group during the 4th quarter valued at $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the transaction, the chief executive officer now directly owns 526,313 shares in the company, valued at approximately $101,515,251.44. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 12,420 shares of company stock valued at $2,342,313 in the last 90 days. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $175.87 on Tuesday. 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 stock has a market capitalization of $69.60 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.55 and a beta of 1.13. The business’s fifty day moving average price is $187.46 and its 200-day moving average price is $192.20.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.16 earnings per share. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research reports. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Wells Fargo & Company lowered 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 research note on Friday. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. Compass Point lifted their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Stephens reissued an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $204.12.

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.