The PNC Financial Services Group, Inc. (NYSE:PNC) Director Purchases $158,220.00 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director now directly owns 2,009 shares of the company’s stock, valued at approximately $317,863.98. This represents a 99.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Stock Up 0.2 %

The PNC Financial Services Group stock opened at $160.95 on Friday. The company has a market capitalization of $63.70 billion, a P/E ratio of 11.71, a PEG ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a 50-day simple moving average of $167.37 and a 200-day simple moving average of $187.55.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.98%. The PNC Financial Services Group’s dividend payout ratio is presently 45.20%.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Florida Financial Advisors LLC increased its position in The PNC Financial Services Group by 8.5% in the 1st quarter. Florida Financial Advisors LLC now owns 2,036 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 159 shares during the period. MQS Management LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $635,000. CWM LLC increased its holdings in shares of The PNC Financial Services Group by 50.4% in the first quarter. CWM LLC now owns 23,676 shares of the financial services provider’s stock valued at $4,162,000 after purchasing an additional 7,931 shares during the period. Schear Investment Advisers LLC raised its stake in shares of The PNC Financial Services Group by 8.0% during the first quarter. Schear Investment Advisers LLC now owns 11,805 shares of the financial services provider’s stock worth $2,075,000 after purchasing an additional 878 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth $49,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. Royal Bank of Canada reduced their target price on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Morgan Stanley cut their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Truist Financial lowered their price objective on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a research report on Wednesday, April 16th. Finally, Barclays reduced their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $200.88.

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.