Livforsakringsbolaget Skandia Omsesidigt Boosts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 56.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712 shares of the financial services provider’s stock after purchasing an additional 256 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The PNC Financial Services Group were worth $110,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $28,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its holdings in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $147.82 on Friday. The stock’s 50 day moving average price is $151.80 and its 200 day moving average price is $141.72. The firm has a market capitalization of $58.80 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.84 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.98 EPS. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 12.47 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 4.19%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Analysts Set New Price Targets

Several brokerages recently commented on PNC. Jefferies Financial Group cut their price target on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 30th. Bank of America increased their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday. StockNews.com raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Thursday. Finally, HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price target for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $156.63.

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.