Skandinaviska Enskilda Banken AB publ reduced its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,965 shares of the financial services provider’s stock after selling 1,093 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in PNC Financial Services Group, Inc. (The) were worth $9,615,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth about $539,000. Korea Investment CORP raised its position in shares of PNC Financial Services Group, Inc. (The) by 48.6% in the first quarter. Korea Investment CORP now owns 439,385 shares of the financial services provider’s stock worth $52,832,000 after buying an additional 143,605 shares during the period. First National Bank & Trust Co. of Newtown raised its position in shares of PNC Financial Services Group, Inc. (The) by 1.7% in the first quarter. First National Bank & Trust Co. of Newtown now owns 9,234 shares of the financial services provider’s stock worth $1,110,000 after buying an additional 155 shares during the period. Rockland Trust Co. raised its position in shares of PNC Financial Services Group, Inc. (The) by 5.2% in the first quarter. Rockland Trust Co. now owns 3,790 shares of the financial services provider’s stock worth $456,000 after buying an additional 187 shares during the period. Finally, HPM Partners LLC bought a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth about $362,000. 81.49% of the stock is currently owned by institutional investors.

Shares of PNC Financial Services Group, Inc. (PNC) traded down 0.79% on Friday, reaching $127.97. 1,630,874 shares of the company traded hands. PNC Financial Services Group, Inc. has a one year low of $84.60 and a one year high of $133.26. The company has a market capitalization of $61.32 billion, a P/E ratio of 16.29 and a beta of 0.93. The firm’s 50 day moving average is $126.99 and its 200 day moving average is $123.22.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the business posted $1.82 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current fiscal year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that permits the company to buyback $2.70 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Thursday, July 13th. This is a boost from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 38.12%.

COPYRIGHT VIOLATION NOTICE: “PNC Financial Services Group, Inc. (The) (PNC) Position Decreased by Skandinaviska Enskilda Banken AB publ” was originally posted by Watch List News and is the property of of Watch List News. If you are accessing this news story on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/pnc-financial-services-group-inc-the-pnc-position-decreased-by-skandinaviska-enskilda-banken-ab-publ/1475727.html.

PNC has been the topic of a number of research reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, April 17th. Rafferty Capital Markets lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating and set a $121.00 price target on the stock. in a report on Monday, April 17th. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday, June 19th. Hilliard Lyons raised shares of PNC Financial Services Group, Inc. (The) from an “underperform” rating to a “hold” rating and lowered their price target for the company from $127.00 to $123.00 in a report on Monday, April 17th. Finally, Instinet boosted their price target on shares of PNC Financial Services Group, Inc. (The) from $121.00 to $127.00 and gave the company a “neutral” rating in a report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $122.57.

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total value of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares in the company, valued at $10,613,074.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group, Inc. (The) (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group Inc. (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.