Banque Pictet & Cie SA Buys Shares of 2,725 The PNC Financial Services Group, Inc. (NYSE:PNC)

Banque Pictet & Cie SA acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 2,725 shares of the financial services provider's stock, valued at approximately $526,000.

Other institutional investors also recently made changes to their positions in the company. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $25,000. Richardson Financial Services Inc. grew its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $32,000. Finally, Financial Life Planners acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $37,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on PNC shares. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Morgan Stanley increased their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Stephens restated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Compass Point upped their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $205.00.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $216.01, for a total transaction of $268,284.42. Following the transaction, the chief executive officer now directly owns 533,765 shares of the company's stock, valued at $115,298,577.65. The trade was a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 13,662 shares of company stock worth $2,730,549 over the last ninety days. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.2 %

Shares of PNC stock traded down $2.33 during mid-day trading on Wednesday, reaching $194.19. 1,570,676 shares of the company were exchanged, compared to its average volume of 2,209,115. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $77.05 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.56 and a beta of 1.16. The business's 50 day simple moving average is $196.73 and its 200 day simple moving average is $191.47.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.16 earnings per share. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is currently 46.55%.

The PNC Financial Services Group Profile

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.