The PNC Financial Services Group (NYSE:PNC) EVP Sells $411,714.00 in Stock

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This represents a 36.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $232.81 on Thursday. The PNC Financial Services Group, Inc has a 12-month low of $172.73 and a 12-month high of $243.94. The firm has a market capitalization of $93.49 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92. The business has a 50 day simple moving average of $219.76 and a 200 day simple moving average of $215.62. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the prior year, the company posted $3.51 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PNC. JPMorgan Chase & Co. increased their price objective 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. Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Citigroup increased their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Jefferies Financial Group began coverage on The PNC Financial Services Group in a report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Bank of America increased their price objective on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors have recently added to or reduced their stakes in the company. Monetary Solutions Ltd acquired a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Quarry LP acquired a new stake in The PNC Financial Services Group in the third quarter worth approximately $25,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $29,000. Financial Life Planners acquired a new stake in The PNC Financial Services Group in the first quarter worth approximately $31,000. Finally, Wilkerson Advisory Group LLC lifted its position in The PNC Financial Services Group by 93.4% in the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 71 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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.