Nordea Investment Management AB Purchases 1,930 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Nordea Investment Management AB lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,538 shares of the financial services provider’s stock after buying an additional 1,930 shares during the period. Nordea Investment Management AB’s holdings in The PNC Financial Services Group were worth $6,283,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC boosted its position in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock valued at $1,185,000 after buying an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd purchased a new stake in The PNC Financial Services Group during the 3rd quarter valued at $12,548,000. Bleakley Financial Group LLC lifted its holdings in shares of The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after buying an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter worth $822,000. Finally, Aljian Capital Management LLC bought a new stake in shares of The PNC Financial Services Group in the third quarter worth $839,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff sold 859 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the transaction, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,030 shares of company stock worth $5,925,333 over the last ninety days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.1 %

Shares of PNC opened at $194.51 on Friday. The business’s 50 day simple moving average is $201.43 and its 200-day simple moving average is $185.29. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $77.18 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.60 earnings per share. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.29%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Analyst Ratings Changes

Several research analysts have issued reports on PNC shares. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday. Truist Financial started coverage on The PNC Financial Services Group in a research report on Tuesday. They set a “hold” rating and a $215.00 price objective on the stock. Piper Sandler increased their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $203.29.

The PNC Financial Services Group Profile

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.