The PNC Financial Services Group, Inc $PNC Shares Purchased by Danske Bank A S

Key Points

• Danske Bank A/S boosted its stake in PNC by 18.4% in Q4 to 296,592 shares (about $61.9M), representing roughly 0.08% of the company.
• CEO William S. Demchak sold 50,000 shares for approximately $11.54M (an 8.27% reduction), and insiders have sold about 64,186 shares worth $14.84M over the past 90 days.
• PNC beat EPS estimates with $4.32 vs. $3.92 but slightly missed revenue ($6.17B vs. $6.21B), announced a quarterly dividend of $1.70 (annualized $6.80, ~3.1% yield), and holds a consensus analyst rating of Moderate Buy with a $241.72 price target.

Danske Bank A S grew its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,592 shares of the financial services provider's stock after acquiring an additional 46,105 shares during the quarter. Danske Bank A S owned about 0.08% of The PNC Financial Services Group worth $61,908,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $25,000. Westfuller Advisors LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $34,000. Beacon Financial Strategies CORP acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $35,000. JPL Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $37,000. Finally, Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the third quarter valued at about $39,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a "market perform" rating in a report on Thursday, April 16th. Bank of America upped their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Finally, Oppenheimer increased their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold 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 $241.72.

Insider Activity

In other news, CEO William S. Demchak sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares of the company's stock, valued at $127,970,781.12. This trade represents a 8.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the sale, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 64,186 shares of company stock worth $14,840,973 over the last 90 days. Company insiders own 0.38% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $220.92 on Friday. The PNC Financial Services Group, Inc has a twelve month low of $163.11 and a twelve month high of $243.94. The company's 50 day moving average is $213.91 and its 200 day moving average is $208.29. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.00. The company has a market cap of $89.11 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $6.17 billion for the quarter, compared to analysts' expectations of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business's revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $3.51 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 39.51%.

The PNC Financial Services Group Company 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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