Groupama Asset Managment Has $47.49 Million Stake in The PNC Financial Services Group, Inc $PNC

Groupama Asset Managment reduced its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 42.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 255,679 shares of the financial services provider’s stock after selling 189,867 shares during the period. Groupama Asset Managment owned 0.06% of The PNC Financial Services Group worth $47,492,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 984 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in The PNC Financial Services Group by 9.8% in the first quarter. Foundations Investment Advisors LLC now owns 1,913 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 171 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of The PNC Financial Services Group by 113.4% during the 1st quarter. Meeder Asset Management Inc. now owns 239 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 127 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of The PNC Financial Services Group by 134.7% during the 1st quarter. GSA Capital Partners LLP now owns 5,737 shares of the financial services provider’s stock worth $1,008,000 after purchasing an additional 3,293 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $82,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PNC shares. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. Raymond James Financial boosted their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Stephens reaffirmed an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Oppenheimer cut their target price on shares of The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Finally, Piper Sandler raised The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $211.00 to $220.00 in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $218.00.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $191.96 on Friday. The company’s 50-day moving average is $188.77 and its 200-day moving average is $189.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $75.28 billion, a PE ratio of 12.40, a PEG ratio of 1.26 and a beta of 1.12. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.05 by $0.30. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.82 billion. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The PNC Financial Services Group’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.49 EPS. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The PNC Financial Services Group’s dividend payout ratio is presently 43.93%.

Insider Buying and Selling

In related news, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president directly owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.41% of the stock is currently owned by company 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.