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

Skandinaviska Enskilda Banken AB publ trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Southeast Asset Advisors LLC acquired a new stake in The PNC Financial Services Group in the third quarter valued at $204,000. Pallas Capital Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 0.9% in the 3rd quarter. Pallas Capital Advisors LLC now owns 50,413 shares of the financial services provider’s stock valued at $10,129,000 after acquiring an additional 471 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of The PNC Financial Services Group by 1.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 129,620 shares of the financial services provider’s stock worth $26,045,000 after acquiring an additional 2,041 shares in the last quarter. Hardy Reed LLC acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $1,285,000. Finally, Cookson Peirce & Co. Inc. lifted its stake in The PNC Financial Services Group by 42.8% during the third quarter. Cookson Peirce & Co. Inc. now owns 3,856 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent analyst reports. Royal Bank Of Canada increased their price target on shares of The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Monday, December 22nd. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research report on Tuesday, January 20th. TD Cowen raised their price objective on 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. Finally, Truist Financial boosted their target price on The PNC Financial Services Group from $210.00 to $229.00 and gave the company a “hold” rating in a report on Thursday, December 18th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.44.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $231.03 on Wednesday. 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 fifty-two week low of $145.12 and a fifty-two week high of $243.94. The firm has a 50-day simple moving average of $220.07 and a 200-day simple moving average of $202.59. The company has a market capitalization of $90.60 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the prior year, the business earned $3.77 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is currently 40.99%.

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.