The PNC Financial Services Group (NYSE:PNC) EVP Michael Duane Thomas Sells 1,500 Shares

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Michael Duane Thomas sold 1,500 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total value of $357,210.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $234.71 on Wednesday. The stock’s fifty day moving average is $221.67 and its two-hundred day moving average is $216.86. The firm has a market capitalization of $94.25 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc has a fifty-two week low of $172.88 and a fifty-two week high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating the consensus estimate of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the company posted $3.51 EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 18.79 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, April 14th. This represents a $6.80 annualized dividend and a yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Wall Street Analyst Weigh In

PNC has been the topic of several recent research reports. Morgan Stanley upped their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. JPMorgan Chase & Co. upped their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Stephens initiated coverage on The PNC Financial Services Group in a report on Monday. They set an “overweight” rating and a $265.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $247.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, April 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $246.72.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PNC. Norges Bank purchased a new position in The PNC Financial Services Group during the 4th quarter worth approximately $1,967,080,000. Viking Global Investors LP grew its stake in The PNC Financial Services Group by 234.9% during the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after buying an additional 5,581,102 shares during the last quarter. Corient Private Wealth LLC grew its stake in The PNC Financial Services Group by 961.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,630,300 shares of the financial services provider’s stock worth $549,023,000 after buying an additional 2,382,552 shares during the last quarter. Deutsche Bank AG grew its stake in The PNC Financial Services Group by 108.2% during the 4th quarter. Deutsche Bank AG now owns 3,836,936 shares of the financial services provider’s stock worth $800,884,000 after buying an additional 1,994,431 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in The PNC Financial Services Group by 50.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock worth $700,305,000 after buying an additional 1,162,964 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Company 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.