Edmond DE Rothschild Holding S.A. Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Edmond DE Rothschild Holding S.A. lowered its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 13,036 shares of the financial services provider’s stock after selling 695 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in The PNC Financial Services Group were worth $2,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at about $1,039,481,000. Franklin Resources Inc. lifted its position in The PNC Financial Services Group by 165.4% in the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after purchasing an additional 3,046,226 shares during the period. Capital International Investors lifted its position in The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after purchasing an additional 1,978,854 shares during the period. Capital Research Global Investors lifted its position in The PNC Financial Services Group by 19.5% in the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares during the period. Finally, International Assets Investment Management LLC lifted its position in The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after purchasing an additional 639,903 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 1.5 %

PNC stock traded up $2.70 during midday trading on Wednesday, hitting $179.68. The stock had a trading volume of 2,562,461 shares, compared to its average volume of 1,927,801. The firm has a market cap of $71.50 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $180.86. The company’s 50-day moving average price is $157.29 and its 200 day moving average price is $153.96.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.36 EPS. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.67 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.56%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Insider Activity

In other news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. Insiders sold 6,419 shares of company stock valued at $1,022,826 in the last ninety days. Company insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PNC. Jefferies Financial Group raised their price objective on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. reduced their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup lifted their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $172.96.

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.