J. Safra Sarasin Holding AG Reduces Stock Holdings in The PNC Financial Services Group, Inc $PNC

J. Safra Sarasin Holding AG reduced its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,333 shares of the financial services provider’s stock after selling 5,495 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in The PNC Financial Services Group were worth $43,468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Brighton Jones LLC lifted its holdings in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC lifted its stake in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 170 shares during the period. Sivia Capital Partners LLC boosted its position in shares of The PNC Financial Services Group by 50.3% during the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 1,449 shares in the last quarter. Dakota Wealth Management boosted its position in shares of The PNC Financial Services Group by 3.9% during the second quarter. Dakota Wealth Management now owns 3,304 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 124 shares in the last quarter. Finally, Signaturefd LLC grew its stake in The PNC Financial Services Group by 6.9% in the second quarter. Signaturefd LLC now owns 7,686 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 497 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.5%

Shares of The PNC Financial Services Group stock opened at $220.58 on Tuesday. The company has a 50-day simple moving average of $207.24 and a two-hundred day simple moving average of $198.38. The stock has a market capitalization of $86.50 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 0.92 and a beta of 0.99. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $227.78. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the prior year, the company posted $3.77 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 40.99%.

Wall Street Analyst Weigh In

PNC has been the subject of several recent research reports. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Oppenheimer boosted their price objective on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the company a “market perform” rating in a research note on Tuesday, January 20th. Finally, Evercore ISI boosted their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.00.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $183.57, for a total transaction of $183,570.00. Following the transaction, the executive vice president directly owned 5,802 shares of the company’s stock, valued at $1,065,073.14. This represents a 14.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

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.