Handelsbanken Fonder AB decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,448 shares of the financial services provider's stock after selling 7,156 shares during the period. Handelsbanken Fonder AB's holdings in The PNC Financial Services Group were worth $22,050,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of PNC. Norges Bank acquired a new position in The PNC Financial Services Group during the fourth quarter worth $1,352,151,000. Leigh Baldwin & CO. LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $299,864,000. GAMMA Investing LLC increased its holdings in The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after purchasing an additional 1,143,079 shares in the last quarter. Schroder Investment Management Group increased its holdings in The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after purchasing an additional 860,554 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after purchasing an additional 726,115 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.
The PNC Financial Services Group Stock Performance
NYSE PNC traded down $0.04 on Thursday, hitting $177.70. 1,647,406 shares of the stock traded hands, compared to its average volume of 2,055,562. The business's fifty day moving average is $166.06 and its two-hundred day moving average is $182.98. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The firm has a market capitalization of $70.29 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, equities analysts anticipate 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.
Insider Buying and Selling at The PNC Financial Services Group
In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the transaction, the chief executive officer now owns 562,291 shares of the company's stock, valued at $84,624,795.50. The trade was a 0.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president now directly owns 20,490 shares of the company's stock, valued at $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,154 shares of company stock valued at $2,525,591 over the last three months. 0.41% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
PNC has been the subject of a number of recent research reports. Truist Financial decreased their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada cut their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Finally, Citigroup dropped their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $202.67.
Check Out Our Latest Report on The PNC Financial Services Group
About The PNC Financial Services Group
(
Free Report)
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.
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