Fjarde AP Fonden Fourth Swedish National Pension Fund Has $19.28 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 57.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,633 shares of the financial services provider's stock after acquiring an additional 33,650 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in The PNC Financial Services Group were worth $19,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Brighton Jones LLC increased its position in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after purchasing an additional 984 shares in the last quarter. Empowered Funds LLC increased its holdings in The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider's stock valued at $1,452,000 after purchasing an additional 170 shares in the last quarter. Sivia Capital Partners LLC raised its position 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 purchasing an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina raised its position in The PNC Financial Services Group by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider's stock valued at $34,409,000 after purchasing an additional 2,808 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in The PNC Financial Services Group in the second quarter worth $482,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $249.13 on Friday. The stock has a market cap of $100.04 billion, a P/E ratio of 14.48, a PEG ratio of 1.02 and a beta of 0.91. The stock has a 50 day simple moving average of $226.89 and a 200 day simple moving average of $220.62. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 1-year low of $176.88 and a 1-year high of $254.00.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts' consensus estimates of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The PNC Financial Services Group's revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $3.51 earnings per share. Research analysts anticipate that The PNC Financial Services Group, Inc will post 18.82 earnings per share for the current year.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares of the company's stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares of the company's stock, valued at $1,204,750.26. This trade represents a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 48,300 shares of company stock valued at $10,694,574. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on PNC. Oppenheimer increased their target price on The PNC Financial Services Group from $268.00 to $271.00 and gave the company an "outperform" rating in a research note on Tuesday. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a "market perform" rating in a report on Thursday, April 16th. Bank of America upped their price target on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Stephens started coverage on shares of The PNC Financial Services Group in a research report on Monday, June 15th. They issued an "overweight" rating and a $265.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus price target of $252.71.

The PNC Financial Services Group Profile

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.

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