Lombard Odier Asset Management Switzerland SA Has $8.50 Million Position in The PNC Financial Services Group, Inc $PNC

Lombard Odier Asset Management Switzerland SA boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 51.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 40,828 shares of the financial services provider’s stock after acquiring an additional 13,812 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in The PNC Financial Services Group were worth $8,496,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Monetary Solutions Ltd bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Quarry LP acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth about $25,000. Modus Advisors LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $29,000. Financial Life Planners acquired a new position in The PNC Financial Services Group during the 1st quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC boosted its stake in The PNC Financial Services Group by 93.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on PNC shares. Barclays boosted their price objective on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Robert W. Baird lifted their target price on The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Argus upped their price target on The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. UBS Group increased their price target on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Oppenheimer raised their price objective on The PNC Financial Services Group from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $265.48.

The PNC Financial Services Group Trading Up 0.5%

Shares of PNC stock opened at $250.59 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market capitalization of $100.63 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.00 and a beta of 0.91. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $256.49. The company has a 50-day simple moving average of $236.91 and a two-hundred day simple moving average of $224.87.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The firm had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter last year, the firm earned $3.85 EPS. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $2.00 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, July 20th. The PNC Financial Services Group’s payout ratio is presently 44.03%.

Insider Activity at The PNC Financial Services Group

In other news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the sale, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. This trade represents a 22.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is 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.