The PNC Financial Services Group, Inc $PNC Shares Acquired by Swedbank AB

Swedbank AB lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 189.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 645,848 shares of the financial services provider’s stock after acquiring an additional 422,830 shares during the quarter. Swedbank AB owned about 0.16% of The PNC Financial Services Group worth $134,808,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in The PNC Financial Services Group during the third quarter worth approximately $25,000. Westfuller Advisors LLC bought a new stake in The PNC Financial Services Group during the third quarter worth approximately $34,000. Beacon Financial Strategies CORP bought a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $35,000. JPL Wealth Management LLC acquired a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $37,000. Finally, Financial Life Planners acquired a new position in The PNC Financial Services Group in the 3rd quarter worth approximately $39,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PNC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. Jefferies Financial Group initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Citigroup raised their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $243.11.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $219.50 on Friday. The company has a market capitalization of $88.14 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.91 and a beta of 0.94. The PNC Financial Services Group, Inc has a one year low of $169.32 and a one year high of $243.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The company’s fifty day moving average price is $214.39 and its 200 day moving average price is $211.74.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.51 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.