Swiss Life Asset Management Ltd Has $16.43 Million Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Swiss Life Asset Management increased its PNC stake by 13.3% in the fourth quarter, ending with 78,694 shares valued at about $16.43 million.
• PNC insiders were net sellers last quarter, with executives Alexander E. C. Overstrom and Richard Kevin Bynum among those selling shares; total insider sales reached 64,186 shares worth about $14.84 million.
• PNC reported solid quarterly results, with EPS of $4.32 beating estimates and revenue rising 13.1% year over year, while the stock was trading near $214.79 and supported by a 3.2% dividend yield.

Swiss Life Asset Management Ltd raised its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 13.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,694 shares of the financial services provider's stock after acquiring an additional 9,267 shares during the quarter. Swiss Life Asset Management Ltd's holdings in The PNC Financial Services Group were worth $16,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $25,000. Westfuller Advisors LLC acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $34,000. Beacon Financial Strategies CORP acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $35,000. JPL Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $37,000. Finally, Financial Life Planners acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Alexander E. C. Overstrom sold 2,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total transaction of $584,775.00. Following the transaction, the executive vice president owned 21,120 shares of the company's stock, valued at $4,940,179.20. This trade represents a 10.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Kevin Bynum sold 7,407 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the transaction, the executive vice president directly owned 1,942 shares in the company, valued at $448,563.16. The trade was a 79.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 64,186 shares of company stock worth $14,840,973 over the last quarter. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $245.00 to $255.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the company an "overweight" rating in a research report on Tuesday, January 20th. Royal Bank Of Canada restated an "outperform" rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Finally, Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $243.11.

The PNC Financial Services Group Stock Down 0.9%

Shares of NYSE PNC opened at $214.79 on Tuesday. The firm has a market capitalization of $86.25 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a 1 year low of $169.32 and a 1 year high of $243.94. The firm's 50-day moving average is $213.49 and its 200-day moving average is $209.92.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) 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 for the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.51 EPS. Equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is 39.51%.

About The PNC Financial Services Group

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.

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