Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) Director Sells 859 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

The PNC Financial Services Group Price Performance

PNC stock opened at $185.81 on Friday. The firm has a market cap of $73.94 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.98 and a beta of 1.14. The firm’s fifty day moving average is $182.30 and its 200 day moving average is $167.97. The PNC Financial Services Group, Inc. has a 52 week low of $110.79 and a 52 week high of $196.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the firm earned $3.60 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Analyst Upgrades and Downgrades

PNC has been the subject of several analyst reports. UBS Group raised their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Stephens upped their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup lifted their price target on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $185.71.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PNC. Capital International Investors increased its position in shares of The PNC Financial Services Group by 0.5% in the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after acquiring an additional 78,407 shares during the period. Ameriprise Financial Inc. grew its stake in shares of The PNC Financial Services Group by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares during the last quarter. Legal & General Group Plc increased its holdings in The PNC Financial Services Group by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after purchasing an additional 223,955 shares during the period. Dimensional Fund Advisors LP raised its position in The PNC Financial Services Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock valued at $346,926,000 after purchasing an additional 100,993 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in The PNC Financial Services Group by 24.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after buying an additional 262,654 shares during the period. 83.53% of the stock is currently owned by institutional investors.

About The PNC Financial Services Group

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.