Vontobel Holding Ltd. Reduces Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Vontobel Holding Ltd. lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,002 shares of the financial services provider’s stock after selling 885 shares during the quarter. Vontobel Holding Ltd.’s holdings in The PNC Financial Services Group were worth $14,556,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $26,000. Tennessee Valley Asset Management Partners purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the period. Fortitude Family Office LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth about $28,000. Finally, OFI Invest Asset Management purchased a new position in The PNC Financial Services Group during the third quarter worth about $25,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an “underperform” rating in a research note on Friday, April 5th. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. Jefferies Financial Group increased their target price on shares of The PNC Financial Services Group from $164.00 to $171.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $157.10.

The PNC Financial Services Group Stock Down 0.7 %

Shares of NYSE:PNC opened at $149.56 on Tuesday. The company has a market capitalization of $59.50 billion, a PE ratio of 11.69, a P/E/G ratio of 1.73 and a beta of 1.18. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The firm has a 50 day simple moving average of $151.88 and a 200-day simple moving average of $141.47.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $3.16 earnings per share for the quarter, topping the consensus estimate of $2.12 by $1.04. The business had revenue of $5.36 billion during the quarter, compared to the consensus estimate of $5.30 billion. The PNC Financial Services Group had a net margin of 17.50% and a return on equity of 12.27%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 EPS. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.42 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.15%. The PNC Financial Services Group’s dividend payout ratio is presently 48.48%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the completion of the sale, the executive vice president now owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.42% of the company’s stock.

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.