Lombard Odier Asset Management Switzerland SA Raises Stake in The PNC Financial Services Group, Inc $PNC

Lombard Odier Asset Management Switzerland SA boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 110.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,016 shares of the financial services provider’s stock after purchasing an additional 14,200 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in The PNC Financial Services Group were worth $5,639,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PNC. Quarry LP acquired a new position in The PNC Financial Services Group in the third quarter valued at approximately $25,000. Modus Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Beacon Financial Strategies CORP acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $35,000. Finally, JPL Wealth Management LLC acquired a new position in The PNC Financial Services Group in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

PNC has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Oppenheimer upped their target price on The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. JPMorgan Chase & Co. upped their target price on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Bank of America upped their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Morgan Stanley upped their target price on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $246.72.

The PNC Financial Services Group Stock Up 1.8%

NYSE PNC opened at $234.71 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The business has a fifty day moving average price of $221.67 and a 200 day moving average price of $216.86. The company has a market cap of $94.25 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.96 and a beta of 0.92. The PNC Financial Services Group, Inc has a one year low of $172.88 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.51 EPS. Research analysts anticipate that The PNC Financial Services Group, Inc will post 18.79 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is currently owned by company insiders.

The PNC Financial Services Group 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.