Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Holdings in The PNC Financial Services Group, Inc $PNC

Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 415.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 880,602 shares of the financial services provider’s stock after buying an additional 709,912 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.22% of The PNC Financial Services Group worth $183,808,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Icon Wealth Advisors LLC increased its stake in The PNC Financial Services Group by 3.4% during the 4th quarter. Icon Wealth Advisors LLC now owns 12,319 shares of the financial services provider’s stock worth $2,553,000 after buying an additional 406 shares in the last quarter. Entropy Technologies LP purchased a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $3,563,000. Ariadne Wealth Management LP increased its stake in The PNC Financial Services Group by 7.2% during the 4th quarter. Ariadne Wealth Management LP now owns 1,880 shares of the financial services provider’s stock worth $432,000 after buying an additional 127 shares in the last quarter. Basswood Capital Management L.L.C. increased its stake in The PNC Financial Services Group by 2.8% during the 4th quarter. Basswood Capital Management L.L.C. now owns 154,712 shares of the financial services provider’s stock worth $32,293,000 after buying an additional 4,217 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in The PNC Financial Services Group by 1.0% during the 4th quarter. Brown Advisory Inc. now owns 103,591 shares of the financial services provider’s stock worth $21,622,000 after buying an additional 1,036 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the transaction, the executive vice president directly owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Truist Financial upped their price target on The PNC Financial Services Group from $234.00 to $245.00 and gave the company a “hold” rating in a research report on Thursday, April 16th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. Bank of America upped their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.11.

The PNC Financial Services Group Trading Up 1.5%

PNC opened at $237.51 on Friday. The PNC Financial Services Group, Inc has a one year low of $172.73 and a one year high of $243.94. The stock has a market capitalization of $95.37 billion, a PE ratio of 13.80, a P/E/G ratio of 0.99 and a beta of 0.92. The business’s 50 day moving average price is $220.85 and its 200 day moving average price is $216.10. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the prior year, the firm posted $3.51 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

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.