Skandinaviska Enskilda Banken AB publ Purchases 300 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Skandinaviska Enskilda Banken AB publ increased its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,433 shares of the financial services provider’s stock after acquiring an additional 300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in The PNC Financial Services Group were worth $12,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ranch Capital Advisors Inc. raised its holdings in shares of The PNC Financial Services Group by 1.0% in the 2nd quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after acquiring an additional 69 shares in the last quarter. AE Wealth Management LLC increased its position in shares of The PNC Financial Services Group by 38.4% in the second quarter. AE Wealth Management LLC now owns 10,742 shares of the financial services provider’s stock worth $1,670,000 after purchasing an additional 2,983 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in The PNC Financial Services Group in the second quarter valued at approximately $1,028,000. Canada Pension Plan Investment Board raised its stake in The PNC Financial Services Group by 16.6% in the second quarter. Canada Pension Plan Investment Board now owns 334,744 shares of the financial services provider’s stock valued at $52,046,000 after purchasing an additional 47,618 shares in the last quarter. Finally, Wealth Advisors of Tampa Bay LLC lifted its position in The PNC Financial Services Group by 2.7% during the second quarter. Wealth Advisors of Tampa Bay LLC now owns 17,218 shares of the financial services provider’s stock valued at $2,677,000 after purchasing an additional 450 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Down 0.4 %

Shares of NYSE PNC opened at $186.36 on Friday. The company has a market cap of $74.08 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.00 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm’s fifty day moving average is $177.11 and its 200 day moving average is $162.96. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.36 earnings per share. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a $1.60 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the sale, the chief executive officer now owns 554,701 shares in the company, valued at $101,604,582.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the completion of the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $183.17, for a total value of $227,497.14. Following the sale, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,622 shares of company stock valued at $4,319,914. Company insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays increased their price target on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. UBS Group raised their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Evercore ISI lifted their price target on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $176.90.

About The PNC Financial Services Group

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.