Vontobel Holding Ltd. Buys 887 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Vontobel Holding Ltd. boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 2.7% in the third quarter, Holdings Channel reports. The firm owned 33,468 shares of the financial services provider’s stock after acquiring an additional 887 shares during the period. Vontobel Holding Ltd.’s holdings in The PNC Financial Services Group were worth $6,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PNC. Capital International Investors raised its holdings in The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after acquiring an additional 78,407 shares during the period. Ameriprise Financial Inc. increased its stake in shares of The PNC Financial Services Group by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares during the period. Legal & General Group Plc lifted its position in shares of The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after purchasing an additional 223,955 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of The PNC Financial Services Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after purchasing an additional 100,993 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after buying an additional 262,654 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $180.48, for a total transaction of $224,156.16. Following the transaction, the chief executive officer now owns 560,911 shares in the company, valued at $101,233,217.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Michael P. Lyons sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at approximately $101,233,217.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,420 shares of company stock worth $4,223,131. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Trading Down 0.6 %

Shares of The PNC Financial Services Group stock opened at $188.80 on Friday. The stock has a market capitalization of $75.12 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $196.64. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The company has a 50-day simple moving average of $180.44 and a 200 day simple moving average of $166.93.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 earnings per share. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research reports. UBS Group increased their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday. Stephens boosted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Finally, Jefferies Financial Group upped their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $185.71.

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.