Groupama Asset Managment Has $53.03 Million Stake in The PNC Financial Services Group, Inc $PNC

Groupama Asset Managment boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,910 shares of the financial services provider’s stock after acquiring an additional 8,231 shares during the quarter. Groupama Asset Managment owned 0.07% of The PNC Financial Services Group worth $53,027,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP bought a new stake in The PNC Financial Services Group during the third quarter worth about $25,000. Westfuller Advisors LLC bought a new stake in The PNC Financial Services Group during the 3rd quarter worth approximately $34,000. JPL Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at $37,000. Financial Life Planners bought a new position in The PNC Financial Services Group in the 3rd quarter valued at $39,000. Finally, Bayforest Capital Ltd raised its position in The PNC Financial Services Group by 237.1% in the 3rd quarter. Bayforest Capital Ltd now owns 209 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 147 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Royal Bank Of Canada increased their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Barclays increased their price objective on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. TD Cowen boosted their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Monday, December 22nd. Fifteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.44.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the completion of the sale, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. The trade was a 8.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alexander E. C. Overstrom sold 2,500 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the transaction, the executive vice president directly owned 21,120 shares in the company, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 64,186 shares of company stock valued at $14,840,973 in the last three months. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $200.76 on Thursday. The firm has a market cap of $80.98 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.91 and a beta of 0.98. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $243.94. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $220.65 and a 200 day moving average price of $205.19.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The company had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.77 EPS. Research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.