Skandinaviska Enskilda Banken AB publ Sells 8,601 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,945 shares of the financial services provider’s stock after selling 8,601 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in The PNC Financial Services Group were worth $18,883,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of The PNC Financial Services Group by 2.2% during the third quarter. BlackRock Inc. now owns 29,488,333 shares of the financial services provider’s stock valued at $5,769,099,000 after buying an additional 631,566 shares during the period. Wellington Management Group LLP boosted its position in shares of The PNC Financial Services Group by 15.3% during the third quarter. Wellington Management Group LLP now owns 16,743,639 shares of the financial services provider’s stock valued at $3,275,724,000 after buying an additional 2,221,691 shares during the period. Capital Research Global Investors boosted its position in shares of The PNC Financial Services Group by 8.7% during the third quarter. Capital Research Global Investors now owns 15,317,830 shares of the financial services provider’s stock valued at $2,996,783,000 after buying an additional 1,226,766 shares during the period. Geode Capital Management LLC boosted its holdings in shares of The PNC Financial Services Group by 1.9% in the third quarter. Geode Capital Management LLC now owns 6,735,695 shares of the financial services provider’s stock valued at $1,313,807,000 after purchasing an additional 125,073 shares during the period. Finally, MFA Wealth Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 16,588.9% in the third quarter. MFA Wealth Advisors LLC now owns 3,655,046 shares of the financial services provider’s stock valued at $4,099,000 after purchasing an additional 3,633,145 shares during the period. Institutional investors and hedge funds own 83.54% of the company’s stock.

NYSE PNC opened at $163.67 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.75 and a quick ratio of 0.78. The stock’s fifty day moving average price is $181.81 and its 200 day moving average price is $197.67. The PNC Financial Services Group, Inc. has a 1 year low of $162.70 and a 1 year high of $228.14. The company has a market cap of $68.49 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.33 and a beta of 1.24.

The PNC Financial Services Group (NYSE:PNCGet Rating) last posted its quarterly earnings results on Thursday, April 14th. The financial services provider reported $3.23 EPS for the quarter, beating the consensus estimate of $2.78 by $0.45. The PNC Financial Services Group had a net margin of 26.14% and a return on equity of 12.43%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the company earned $4.10 earnings per share. The firm’s revenue was up 11.2% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 14.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 5th. Shareholders of record on Wednesday, April 13th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.67%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, April 12th. The PNC Financial Services Group’s dividend payout ratio is presently 50.76%.

In other news, EVP Guild Deborah sold 1,257 shares of the stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $170.56, for a total transaction of $214,393.92. Following the sale, the executive vice president now directly owns 23,360 shares of the company’s stock, valued at approximately $3,984,281.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael P. Lyons sold 5,500 shares of the stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $182.59, for a total transaction of $1,004,245.00. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

A number of analysts recently issued reports on PNC shares. Robert W. Baird boosted their price target on The PNC Financial Services Group from $200.00 to $230.00 in a report on Wednesday, January 19th. Piper Sandler lowered their target price on The PNC Financial Services Group from $215.00 to $201.00 and set a “neutral” rating for the company in a report on Friday, April 1st. Credit Suisse Group upped their target price on The PNC Financial Services Group from $203.00 to $207.00 and gave the stock a “neutral” rating in a report on Wednesday, January 19th. Argus lowered their target price on The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Finally, StockNews.com started coverage on The PNC Financial Services Group in a report on Thursday, March 31st. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $219.53.

The PNC Financial Services Group Profile (Get Rating)

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers brokerage, insurance, and investment and cash management services; checking, savings, and money market accounts; certificates of deposits; and lending products, which includes residential mortgages, home equity loans and lines of credit, auto loans, education loans, and personal and small business loans, and credit cards to consumer and small business customers through a network of branches, ATMs, call centers, and online and mobile banking channels.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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