The PNC Financial Services Group, Inc $PNC Position Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 15.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 154,661 shares of the financial services provider’s stock after purchasing an additional 20,256 shares during the quarter. Handelsbanken Fonder AB’s holdings in The PNC Financial Services Group were worth $32,282,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. YANKCOM Partnership boosted its holdings in The PNC Financial Services Group by 1.8% during the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider’s stock worth $539,000 after buying an additional 46 shares in the last quarter. Westfuller Advisors LLC boosted its holdings in The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider’s stock worth $45,000 after buying an additional 46 shares in the last quarter. Flavin Financial Services Inc. boosted its holdings in The PNC Financial Services Group by 0.4% during the fourth quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after buying an additional 48 shares in the last quarter. Almanack Investment Partners LLC. boosted its holdings in The PNC Financial Services Group by 2.2% during the fourth quarter. Almanack Investment Partners LLC. now owns 2,349 shares of the financial services provider’s stock worth $490,000 after buying an additional 50 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in The PNC Financial Services Group by 1.1% during the fourth quarter. North Star Investment Management Corp. now owns 4,784 shares of the financial services provider’s stock worth $999,000 after buying an additional 50 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 50,000 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the completion of the sale, the chief executive officer owned 554,274 shares in the company, valued at $127,970,781.12. This represents a 8.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 0.2%

PNC stock opened at $213.24 on Wednesday. The PNC Financial Services Group, Inc has a 12-month low of $169.32 and a 12-month high of $243.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market cap of $85.63 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.89 and a beta of 0.94. The company has a 50 day moving average of $213.63 and a two-hundred day moving average of $211.19.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the firm earned $3.51 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

Analyst Ratings Changes

PNC has been the subject of a number of research reports. Truist Financial raised their target price on shares of The PNC Financial Services Group from $234.00 to $245.00 and gave the stock a “hold” rating in a report on Thursday, April 16th. Citigroup raised their target price on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 8th. TD Cowen raised their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

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.