The PNC Financial Services Group, Inc $PNC Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,886 shares of the financial services provider’s stock after selling 2,245 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in The PNC Financial Services Group were worth $25,093,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock valued at $779,000 after buying an additional 984 shares in the last quarter. Empowered Funds LLC lifted its position in The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares during the period. Sivia Capital Partners LLC grew its holdings in The PNC Financial Services Group by 50.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after buying an additional 1,449 shares during the period. Mutual Advisors LLC increased its stake in shares of The PNC Financial Services Group by 11.8% during the 2nd quarter. Mutual Advisors LLC now owns 1,858 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 196 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of The PNC Financial Services Group by 6.8% during the 2nd quarter. Nordea Investment Management AB now owns 34,877 shares of the financial services provider’s stock worth $6,524,000 after acquiring an additional 2,210 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNC has been the subject of several research analyst reports. Oppenheimer upped their price target on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. increased their target price on The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Weiss Ratings reissued a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Monday, December 22nd. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a report on Tuesday, January 20th. Finally, Morgan Stanley boosted their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.44.

The PNC Financial Services Group Price Performance

PNC stock opened at $231.03 on Wednesday. The firm has a market cap of $90.60 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The stock has a 50-day simple moving average of $220.07 and a 200-day simple moving average of $202.59.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the company posted $3.77 EPS. The PNC Financial Services Group’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

About The PNC Financial Services Group

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.