Andra AP fonden Has $4.09 Million Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Andra AP fonden lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 50.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,200 shares of the financial services provider’s stock after selling 21,700 shares during the quarter. Andra AP fonden’s holdings in The PNC Financial Services Group were worth $4,088,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Edgestream Partners L.P. acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $627,000. Jackson Creek Investment Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 5.0% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 4,812 shares of the financial services provider’s stock valued at $928,000 after buying an additional 230 shares during the last quarter. BBR Partners LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $237,000. Ashton Thomas Private Wealth LLC raised its stake in shares of The PNC Financial Services Group by 6.2% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 10,996 shares of the financial services provider’s stock worth $2,121,000 after purchasing an additional 643 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in The PNC Financial Services Group during the 4th quarter valued at $944,000. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total transaction of $252,200.52. Following the completion of the sale, the chief executive officer now directly owns 531,281 shares in the company, valued at $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 12,420 shares of company stock valued at $2,421,788 over the last quarter. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.4 %

Shares of NYSE:PNC opened at $179.75 on Friday. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The firm has a fifty day moving average price of $194.20 and a two-hundred day moving average price of $192.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $71.14 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm posted $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.56%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PNC shares. Citigroup boosted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Barclays boosted their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Compass Point increased their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $205.00.

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.