Swedbank AB Sells 1,890 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Swedbank AB lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 210,247 shares of the financial services provider's stock after selling 1,890 shares during the period. Swedbank AB owned 0.05% of The PNC Financial Services Group worth $40,546,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Loomis Sayles & Co. L P grew its position in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider's stock valued at $115,000 after buying an additional 50 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 53 shares during the period. MFA Wealth Advisors LLC raised its holdings in The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after purchasing an additional 55 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock worth $3,148,000 after purchasing an additional 56 shares during the period. Finally, Altman Advisors Inc. boosted its stake in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider's stock valued at $1,942,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

PNC has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. Barclays increased their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Evercore ISI increased their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Truist Financial lifted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $205.00.

The PNC Financial Services Group Trading Up 0.4 %

Shares of The PNC Financial Services Group stock traded up $0.86 on Thursday, hitting $203.04. The stock had a trading volume of 589,357 shares, compared to its average volume of 2,427,609. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The stock's 50-day simple moving average is $200.11 and its two-hundred day simple moving average is $189.35. The stock has a market cap of $80.56 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the previous year, the firm earned $3.16 earnings per share. The business's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.15%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the sale, the chief executive officer now owns 543,523 shares of the company's stock, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,413 shares of company stock valued at $6,021,569. 0.42% of the stock is currently owned by company insiders.

About The PNC Financial Services Group

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.