Zurich Insurance Group Ltd FI Sells 51,257 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Zurich Insurance Group Ltd FI trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 32.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 104,363 shares of the financial services provider’s stock after selling 51,257 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in The PNC Financial Services Group were worth $20,126,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Baltimore Washington Financial Advisors Inc. increased its holdings in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after buying an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 53 shares during the last quarter. Transcend Capital Advisors LLC boosted its position in The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 55 shares during the last quarter. Valmark Advisers Inc. boosted its position in The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after purchasing an additional 56 shares during the last quarter. Finally, Gilbert & Cook Inc. boosted its position in The PNC Financial Services Group by 2.1% in the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 58 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Down 0.7%

NYSE PNC opened at $177.36 on Wednesday. The stock’s 50 day moving average is $165.19 and its 200 day moving average is $186.07. 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 PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26. The stock has a market cap of $70.16 billion, a PE ratio of 12.90, a P/E/G ratio of 1.55 and a beta of 1.06.

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

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $179.14, for a total value of $222,491.88. Following the transaction, the chief executive officer now directly owns 556,121 shares of the company’s stock, valued at approximately $99,623,515.94. The trade was a 0.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,638 shares of company stock valued at $3,012,095. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group dropped their target price on 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. Keefe, Bruyette & Woods dropped their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. TD Cowen assumed coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a “buy” rating and a $233.00 target price on the stock. Finally, HSBC raised The PNC Financial Services Group from a “hold” rating to a “buy” rating and dropped their target price for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $202.67.

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.