The PNC Financial Services Group, Inc $PNC Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 174.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,712 shares of the financial services provider’s stock after purchasing an additional 57,603 shares during the period. Vontobel Holding Ltd.’s holdings in The PNC Financial Services Group were worth $18,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Saudi Central Bank acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter worth about $27,000. IMG Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth $27,000. Concord Wealth Partners boosted its stake in The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth about $36,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $213.48 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $214.59. The firm has a market capitalization of $83.72 billion, a P/E ratio of 13.79, a PEG ratio of 1.19 and a beta of 1.01. The company’s fifty day moving average is $191.83 and its two-hundred day moving average is $193.21.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $4.35 EPS for the quarter, beating the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter last year, the business earned $3.49 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 43.93%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Michael Duane Thomas sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the sale, the executive vice president directly owned 5,802 shares in the company, valued at $1,065,073.14. The trade was a 14.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total transaction of $201,927.60. Following the transaction, the executive vice president owned 27,335 shares of the company’s stock, valued at $5,110,824.95. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PNC shares. Oppenheimer dropped their price target on The PNC Financial Services Group from $240.00 to $231.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. Citigroup upped their price target on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Truist Financial raised their price objective on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a research report on Thursday, December 18th. UBS Group increased their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $219.11.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.