E. Ohman J or Asset Management AB Boosts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

E. Ohman J or Asset Management AB increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,021 shares of the financial services provider’s stock after buying an additional 2,020 shares during the period. E. Ohman J or Asset Management AB’s holdings in The PNC Financial Services Group were worth $3,475,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth $32,000. Finally, Financial Life Planners purchased a new position in The PNC Financial Services Group during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Citigroup raised their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays boosted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Compass Point increased their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $205.00.

Insider Activity

In related news, Director Andrew T. Feldstein sold 14,509 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the sale, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,171 shares of company stock worth $5,786,210. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $197.61 on Tuesday. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The firm has a 50 day moving average of $199.85 and a two-hundred day moving average of $189.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $78.41 billion, a PE ratio of 14.37, a P/E/G ratio of 1.63 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.16 EPS. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

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.