J. Safra Sarasin Holding AG Has $31.75 Million Holdings in The PNC Financial Services Group, Inc $PNC

J. Safra Sarasin Holding AG increased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 13.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,617 shares of the financial services provider’s stock after acquiring an additional 17,525 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in The PNC Financial Services Group were worth $31,753,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PNC. Monetary Solutions Ltd bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $25,000. Quarry LP bought a new position in shares of The PNC Financial Services Group in the third quarter worth about $25,000. Modus Advisors LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $29,000. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth about $31,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares of the company’s stock, valued at $1,204,750.26. The trade was a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,300 shares of company stock worth $10,694,574 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

The PNC Financial Services Group Trading Up 0.0%

The PNC Financial Services Group stock opened at $251.99 on Monday. The business has a 50 day moving average price of $229.90 and a two-hundred day moving average price of $222.12. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The stock has a market cap of $101.19 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.03 and a beta of 0.91. The PNC Financial Services Group, Inc has a 12 month low of $176.88 and a 12 month high of $256.00.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates 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 PNC Financial Services Group’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.51 EPS. As a group, equities analysts forecast that The PNC Financial Services Group, Inc will post 18.83 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 3.2%. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, July 20th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 39.51%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Oppenheimer raised their target price on The PNC Financial Services Group from $268.00 to $271.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Stephens began coverage on The PNC Financial Services Group in a report on Monday, June 15th. They set an “overweight” rating and a $265.00 price target for the company. JPMorgan Chase & Co. increased their price objective on The PNC Financial Services Group from $238.00 to $264.50 and gave the company an “overweight” rating in a research report on Monday, July 6th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Finally, Truist Financial raised their price objective on shares of The PNC Financial Services Group from $245.00 to $257.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and a consensus target price of $258.09.

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.