Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) EVP Sells 1,492 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now directly owns 20,490 shares of the company’s stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

The PNC Financial Services Group Stock Performance

PNC opened at $177.74 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average price of $164.61 and a 200 day moving average price of $186.42. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The stock has a market cap of $70.31 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is presently 45.20%.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $25,000. Richardson Financial Services Inc. increased its holdings in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PNC. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Morgan Stanley decreased their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and decreased their price objective for the company from $206.00 to $202.00 in a research report on Monday, March 31st. Royal Bank of Canada decreased their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company decreased their price objective on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $200.88.

The PNC Financial Services Group Company 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.