The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 37.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,931 shares of the financial services provider's stock after purchasing an additional 29,700 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in The PNC Financial Services Group were worth $20,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new position in The PNC Financial Services Group during the fourth quarter valued at $25,000. Richardson Financial Services Inc. increased its holdings in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $30,000. Rialto Wealth Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $32,000. Finally, Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent analyst reports. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Stephens reaffirmed an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Piper Sandler lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Finally, Barclays boosted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $205.00.

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The PNC Financial Services Group Stock Down 0.5 %

PNC traded down $0.80 during trading hours on Tuesday, hitting $173.20. 4,219,487 shares of the company's stock were exchanged, compared to its average volume of 1,740,429. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The firm has a 50 day moving average of $191.61 and a 200 day moving average of $192.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market cap of $68.54 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the firm posted $3.16 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $202.11, for a total value of $251,020.62. Following the transaction, the chief executive officer now directly owns 522,587 shares of the company's stock, valued at $105,620,058.57. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 13,662 shares of company stock valued at $2,604,263 in the last ninety days. Insiders own 0.42% of the company's stock.

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.