The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden lifted its holdings in The PNC Financial Services Group, Inc. (NYSE:PNCGet Rating) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,400 shares of the financial services provider’s stock after acquiring an additional 5,600 shares during the period. Forsta AP Fonden’s holdings in The PNC Financial Services Group were worth $16,490,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PNC. Citizens National Bank Trust Department acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $28,000. Retirement Planning Co of New England Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $30,000. Mascoma Wealth Management LLC increased its position in shares of The PNC Financial Services Group by 89.8% in the first quarter. Mascoma Wealth Management LLC now owns 167 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 79 shares in the last quarter. Guardian Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Covestor Ltd acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $40,000. Institutional investors and hedge funds own 83.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Argus decreased their target price on shares of The PNC Financial Services Group from $245.00 to $220.00 in a research note on Monday, April 18th. Raymond James downgraded shares of The PNC Financial Services Group from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 7th. Piper Sandler set a $160.00 target price on shares of The PNC Financial Services Group in a research note on Tuesday, July 19th. Wolfe Research decreased their target price on shares of The PNC Financial Services Group from $223.00 to $177.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Finally, Citigroup decreased their target price on shares of The PNC Financial Services Group from $190.00 to $170.00 in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $197.63.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $167.04 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.75. The PNC Financial Services Group, Inc. has a fifty-two week low of $146.39 and a fifty-two week high of $228.14. The firm has a 50-day simple moving average of $161.81 and a 200 day simple moving average of $177.72. The company has a market cap of $68.51 billion, a PE ratio of 13.07, a P/E/G ratio of 2.41 and a beta of 1.21.

The PNC Financial Services Group (NYSE:PNCGet Rating) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $3.42 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.31. The PNC Financial Services Group had a net margin of 27.32% and a return on equity of 11.93%. The business had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the firm earned $4.50 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 14.48 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Wednesday, July 13th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Tuesday, July 12th. The PNC Financial Services Group’s dividend payout ratio is presently 46.95%.

The PNC Financial Services Group Company Profile

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The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as certificates of 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.

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Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

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