Pictet Asset Management Holding SA Purchases 25,738 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Pictet Asset Management Holding SA grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,534 shares of the financial services provider's stock after purchasing an additional 25,738 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of The PNC Financial Services Group worth $46,387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter valued at $25,000. Richardson Financial Services Inc. boosted its position in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

PNC stock traded down $8.44 during trading on Friday, reaching $152.85. 4,147,372 shares of the stock were exchanged, compared to its average volume of 1,905,737. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $60.49 billion, a P/E ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The stock has a 50 day simple moving average of $184.93 and a 200-day simple moving average of $191.66.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.19%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PNC shares. Stephens restated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Friday, January 17th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and lowered their price target for the company from $206.00 to $202.00 in a research note on Monday. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday. Morgan Stanley increased their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a report on Friday, January 17th. Finally, Truist Financial reduced their target price on The PNC Financial Services Group from $216.00 to $208.00 and set a "hold" rating for the company in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $205.18.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the sale, the chief executive officer now directly owns 526,313 shares in the company, valued at approximately $101,515,251.44. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 12,420 shares of company stock worth $2,320,739 over the last quarter. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Company 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.