AMF Tjanstepension AB Sells 73,505 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

AMF Tjanstepension AB trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 18.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,570 shares of the financial services provider’s stock after selling 73,505 shares during the period. AMF Tjanstepension AB owned 0.08% of The PNC Financial Services Group worth $59,905,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Foster & Motley Inc. increased its position in The PNC Financial Services Group by 15.8% during the first quarter. Foster & Motley Inc. now owns 4,992 shares of the financial services provider’s stock worth $921,000 after buying an additional 680 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth about $236,000. We Are One Seven LLC boosted its position in shares of The PNC Financial Services Group by 94.5% during the 4th quarter. We Are One Seven LLC now owns 6,386 shares of the financial services provider’s stock worth $1,281,000 after purchasing an additional 3,102 shares in the last quarter. Versor Investments LP lifted its position in The PNC Financial Services Group by 29.4% in the 1st quarter. Versor Investments LP now owns 4,012 shares of the financial services provider’s stock valued at $740,000 after acquiring an additional 912 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC increased its stake in The PNC Financial Services Group by 41.0% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 12,303 shares of the financial services provider’s stock valued at $2,269,000 after buying an additional 3,575 shares during the last quarter. 83.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Robert A. Niblock purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was bought at an average price of $167.07 per share, for a total transaction of $334,140.00. Following the completion of the purchase, the director now directly owns 6,063 shares of the company’s stock, valued at $1,012,945.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Guild Deborah sold 1,257 shares of the company’s 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 completion of the transaction, the executive vice president now 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, Director Robert A. Niblock bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 6th. The shares were acquired at an average cost of $167.07 per share, with a total value of $334,140.00. Following the transaction, the director now owns 6,063 shares in the company, valued at approximately $1,012,945.41. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PNC shares. Evercore ISI set a $175.00 price objective on shares of The PNC Financial Services Group in a research note on Tuesday, July 19th. Argus reduced their target price on shares of The PNC Financial Services Group from $245.00 to $220.00 in a report on Monday, April 18th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $168.00 to $180.00 in a research note on Monday, July 18th. Raymond James downgraded shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. Finally, StockNews.com began coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $197.63.

The PNC Financial Services Group Stock Down 0.0 %

Shares of PNC stock traded down $0.07 on Thursday, reaching $162.93. 28,215 shares of the company were exchanged, compared to its average volume of 2,299,263. The PNC Financial Services Group, Inc. has a one year low of $146.39 and a one year high of $228.14. The company has a market cap of $67.38 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.76 and a quick ratio of 0.74. The company has a 50-day moving average of $161.75 and a 200-day moving average of $180.53.

The PNC Financial Services Group (NYSE:PNCGet Rating) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $3.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.31. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.13 billion. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.50 EPS. Analysts anticipate that The PNC Financial Services Group, Inc. will post 14.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Wednesday, July 13th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, July 12th. The PNC Financial Services Group’s payout ratio is currently 46.95%.

The PNC Financial Services Group Company 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 checking, savings, and money market accounts, as well as certificates of 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.

Recommended Stories

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

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.