Vontobel Holding Ltd. Sells 885 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Vontobel Holding Ltd. cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,002 shares of the financial services provider’s stock after selling 885 shares during the period. Vontobel Holding Ltd.’s holdings in The PNC Financial Services Group were worth $14,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Norges Bank bought a new stake in The PNC Financial Services Group during the fourth quarter worth $735,469,000. Moneta Group Investment Advisors LLC lifted its stake in The PNC Financial Services Group by 122,771.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock worth $401,323,000 after purchasing an additional 2,538,916 shares during the last quarter. Morgan Stanley lifted its stake in The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock worth $740,101,000 after purchasing an additional 1,045,055 shares during the last quarter. FMR LLC lifted its stake in The PNC Financial Services Group by 6.7% during the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock worth $1,758,880,000 after purchasing an additional 893,808 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in The PNC Financial Services Group by 7.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 13,070,513 shares of the financial services provider’s stock worth $2,064,357,000 after purchasing an additional 860,489 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

PNC stock opened at $149.56 on Tuesday. The stock has a 50-day moving average price of $151.88 and a 200-day moving average price of $141.47. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. 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 firm has a market cap of $59.50 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.73 and a beta of 1.18.

The PNC Financial Services Group (NYSE:PNC) last posted 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 PNC Financial Services Group had a return on equity of 12.27% and a net margin of 17.50%. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the company posted $3.49 EPS. The business’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.42 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $145.00 to $152.00 and gave the stock an “underperform” rating in a report on Friday, April 5th. Wells Fargo & Company upped their price target on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. UBS Group upped their price target on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $157.10.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the sale, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by company insiders.

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.