AMF Tjanstepension AB Buys 98,539 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

AMF Tjanstepension AB increased its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 73.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 233,381 shares of the financial services provider’s stock after purchasing an additional 98,539 shares during the period. AMF Tjanstepension AB owned approximately 0.06% of The PNC Financial Services Group worth $45,040,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Concurrent Investment Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after acquiring an additional 2,009 shares during the period. Blake Schutter Theil Wealth Advisors LLC acquired a new position in The PNC Financial Services Group during the third quarter valued at approximately $253,000. Graypoint LLC lifted its stake in The PNC Financial Services Group by 10.3% during the third quarter. Graypoint LLC now owns 2,814 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 262 shares during the last quarter. Cozad Asset Management Inc. acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at $204,000. Finally, Principal Financial Group Inc. increased its stake in shares of The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after purchasing an additional 22,271 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares in the company, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 12,420 shares of company stock valued at $2,421,788 in the last quarter. 0.42% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PNC has been the topic of several research analyst reports. Citigroup raised their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, November 25th. 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. Compass Point increased their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley increased their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Finally, Truist Financial lifted their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Trading Up 0.4 %

PNC opened at $179.75 on Friday. The stock has a market cap of $71.14 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. 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 PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The company has a fifty day moving average of $194.20 and a 200-day moving average of $192.68.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share 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 analyst estimates 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.16 EPS. On average, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

The PNC Financial Services Group Company 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.