Vontobel Holding Ltd. Grows Stock Holdings in The PNC Financial Services Group, Inc $PNC

Vontobel Holding Ltd. grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 174.0% during the third quarter, HoldingsChannel reports. The firm owned 90,712 shares of the financial services provider’s stock after purchasing an additional 57,603 shares during the quarter. Vontobel Holding Ltd.’s holdings in The PNC Financial Services Group were worth $18,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PNC. DAVENPORT & Co LLC lifted its stake in shares of The PNC Financial Services Group by 0.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 42,539 shares of the financial services provider’s stock valued at $8,547,000 after purchasing an additional 399 shares in the last quarter. Apeiron RIA LLC purchased a new position in The PNC Financial Services Group in the third quarter valued at about $260,000. Welch Group LLC lifted its position in shares of The PNC Financial Services Group by 3.5% during the third quarter. Welch Group LLC now owns 3,079 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 103 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of The PNC Financial Services Group by 18.0% in the third quarter. Farther Finance Advisors LLC now owns 11,442 shares of the financial services provider’s stock valued at $2,299,000 after purchasing an additional 1,747 shares during the period. Finally, Parcion Private Wealth LLC grew its holdings in The PNC Financial Services Group by 28.9% during the 3rd quarter. Parcion Private Wealth LLC now owns 3,401 shares of the financial services provider’s stock valued at $683,000 after purchasing an additional 763 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Up 0.7%

Shares of PNC stock opened at $213.48 on Thursday. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $214.59. The stock has a market cap of $83.72 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The business’s fifty day moving average is $191.83 and its 200-day moving average is $193.21. 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 (NYSE:PNC) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous year, the business posted $3.49 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th were given a dividend of $1.70 per share. 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 payout ratio is presently 43.93%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president owned 5,802 shares in the company, valued at $1,065,073.14. This represents a 14.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Guild Deborah sold 1,080 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $186.97, for a total value of $201,927.60. Following the sale, the executive vice president owned 27,335 shares of the company’s stock, valued at approximately $5,110,824.95. This represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. Cfra Research raised The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $215.00 to $228.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Raymond James Financial upped their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Truist Financial increased their target price on shares of The PNC Financial Services Group from $210.00 to $229.00 and gave the stock a “hold” rating in a report on Thursday, December 18th. Finally, Piper Sandler upgraded The PNC Financial Services Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $211.00 to $220.00 in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.