The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 3.3% in the first quarter, HoldingsChannel reports. The firm owned 17,421 shares of the financial services provider’s stock after selling 600 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in The PNC Financial Services Group were worth $3,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mechanics Financial Corp acquired a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $541,000. AssuredPartners Investment Advisors LLC acquired a new position in The PNC Financial Services Group during the 4th quarter worth $739,000. Premier Fund Managers Ltd boosted its position in The PNC Financial Services Group by 38.3% during the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock worth $9,511,000 after acquiring an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after acquiring an additional 8,081 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after acquiring an additional 3,100 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 2.3%

Shares of NYSE PNC opened at $178.72 on Friday. The PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a market cap of $70.70 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.55 and a beta of 1.06. 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 business has a fifty day simple moving average of $165.16 and a 200-day simple moving average of $183.56.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. 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 disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.58%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average cost of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now owns 2,009 shares in the company, valued at approximately $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 601 shares of the stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total value of $96,160.00. Following the completion of the sale, the chief executive officer now directly owns 563,573 shares of the company’s stock, valued at approximately $90,171,680. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,154 shares of company stock valued at $2,525,591. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PNC shares. The Goldman Sachs Group dropped their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Truist Financial dropped their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a research note on Wednesday, April 16th. HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. dropped their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.67.

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.