J. Safra Sarasin Holding AG Acquires 67,119 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

J. Safra Sarasin Holding AG raised its stake in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 33.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 268,231 shares of the financial services provider's stock after acquiring an additional 67,119 shares during the period. J. Safra Sarasin Holding AG owned 0.07% of The PNC Financial Services Group worth $51,728,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after purchasing an additional 22,271 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at approximately $481,000. Wealthquest Corp bought a new stake in shares of The PNC Financial Services Group during the third quarter valued at approximately $212,000. Wilmington Savings Fund Society FSB boosted its position in shares of The PNC Financial Services Group by 86.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider's stock worth $6,367,000 after buying an additional 15,962 shares during the period. Finally, Synovus Financial Corp grew its holdings in The PNC Financial Services Group by 3.7% in the 3rd quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider's stock worth $2,631,000 after buying an additional 509 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the transaction, the chief executive officer now directly owns 562,291 shares of the company's stock, valued at $84,624,795.50. This trade represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 12,460 shares of company stock worth $2,223,979. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

PNC has been the topic of several recent analyst reports. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Royal Bank of Canada cut their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their target price on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Morgan Stanley dropped their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $200.88.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $3.06 during midday trading on Wednesday, hitting $157.51. The company had a trading volume of 3,145,613 shares, compared to its average volume of 1,995,293. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The business's 50 day simple moving average is $171.18 and its two-hundred day simple moving average is $188.56. The PNC Financial Services Group, Inc. has a 1-year low of $145.12 and a 1-year high of $216.26. The stock has a market cap of $62.33 billion, a PE ratio of 11.45, a P/E/G ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.06%. The PNC Financial Services Group's payout ratio is presently 45.20%.

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.