J. Safra Sarasin Holding AG Buys 67,119 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

J. Safra Sarasin Holding AG lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 33.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268,231 shares of the financial services provider’s stock after acquiring an additional 67,119 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in The PNC Financial Services Group were worth $51,728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its stake in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at about $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PNC shares. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. JPMorgan Chase & Co. cut their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada cut their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Finally, Truist Financial decreased their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $200.88.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the transaction, the chief executive officer now directly owns 522,587 shares of the company’s stock, valued at approximately $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 11,819 shares of company stock worth $2,127,508 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Up 0.3 %

Shares of PNC opened at $152.05 on Monday. 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 current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $60.17 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The business’s 50 day moving average is $173.63 and its 200 day moving average is $189.24.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. Research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

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.