Skandinaviska Enskilda Banken AB publ Grows Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the second quarter, HoldingsChannel reports. The fund owned 79,433 shares of the financial services provider’s stock after acquiring an additional 300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in The PNC Financial Services Group were worth $12,350,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Gilbert & Cook Inc. lifted its holdings in shares of The PNC Financial Services Group by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 107 shares during the last quarter. Gryphon Financial Partners LLC purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $228,000. CreativeOne Wealth LLC bought a new stake in The PNC Financial Services Group in the fourth quarter worth $235,000. Commerce Bank grew its stake in shares of The PNC Financial Services Group by 1.2% in the fourth quarter. Commerce Bank now owns 20,106 shares of the financial services provider’s stock worth $3,113,000 after acquiring an additional 241 shares during the last quarter. Finally, SageView Advisory Group LLC increased its holdings in shares of The PNC Financial Services Group by 125.4% during the fourth quarter. SageView Advisory Group LLC now owns 9,030 shares of the financial services provider’s stock valued at $1,393,000 after acquiring an additional 5,023 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William S. Demchak sold 2,404 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the completion of the transaction, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at $90,341,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The disclosure for this sale can be found here. Insiders sold a total of 24,622 shares of company stock valued at $4,319,914 over the last 90 days. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.4 %

PNC stock opened at $186.36 on Friday. The business’s 50-day moving average price is $177.11 and its 200-day moving average price is $162.96. The stock has a market cap of $74.08 billion, a P/E ratio of 15.65, a PEG ratio of 2.00 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $3.36 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays lifted their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Evercore ISI increased their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley increased their price objective on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $176.90.

About The PNC Financial Services Group

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.