Livforsakringsbolaget Skandia Omsesidigt Buys 2,101 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Livforsakringsbolaget Skandia Omsesidigt increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 295.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,813 shares of the financial services provider’s stock after purchasing an additional 2,101 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The PNC Financial Services Group were worth $520,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Valley Brook Capital Group Inc. increased its stake in shares of The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after buying an additional 62 shares during the period. Kowal Investment Group LLC increased its position in The PNC Financial Services Group by 2.6% during the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 68 shares during the period. Ranch Capital Advisors Inc. raised its holdings in shares of The PNC Financial Services Group by 1.0% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after purchasing an additional 69 shares in the last quarter. Triangle Securities Wealth Management lifted its position in shares of The PNC Financial Services Group by 1.8% in the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares during the period. Finally, Cooper Financial Group boosted its stake in shares of The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 70 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $176.67, for a total value of $219,424.14. Following the sale, the chief executive officer now owns 562,153 shares in the company, valued at approximately $99,315,570.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $176.67, for a total value of $219,424.14. Following the transaction, the chief executive officer now owns 562,153 shares in the company, valued at $99,315,570.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,420 shares of company stock worth $4,212,785. 0.42% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNC. UBS Group boosted their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Morgan Stanley raised 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. Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Jefferies Financial Group raised their price target on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Two equities 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 company. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $177.65.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $187.77 on Monday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $189.17. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a market cap of $74.71 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The company’s 50 day moving average is $178.68 and its 200 day moving average is $166.20.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business earned $3.36 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.41%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

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.