The PNC Financial Services Group, Inc. (NYSE:PNC) EVP Sells $260,443.52 in Stock

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

The PNC Financial Services Group Stock Up 0.3%

Shares of NYSE PNC opened at $178.04 on Thursday. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a market cap of $70.43 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average price of $164.57 and a 200 day moving average price of $186.36.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly 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 return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a yield of 3.59%. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PNC shares. Barclays cut their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Morgan Stanley cut their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods cut their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday, April 16th. Finally, Citigroup cut their price target 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $200.88.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently added to or reduced their stakes in PNC. Czech National Bank increased its holdings in The PNC Financial Services Group by 6.2% in the 4th quarter. Czech National Bank now owns 86,031 shares of the financial services provider’s stock valued at $16,591,000 after purchasing an additional 5,057 shares in the last quarter. Fiduciary Alliance LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $785,000. City State Bank boosted its position in The PNC Financial Services Group by 59.4% in the 4th quarter. City State Bank now owns 1,132 shares of the financial services provider’s stock valued at $218,000 after buying an additional 422 shares during the last quarter. Brookstone Capital Management boosted its position in The PNC Financial Services Group by 14.1% in the 4th quarter. Brookstone Capital Management now owns 15,394 shares of the financial services provider’s stock valued at $2,969,000 after buying an additional 1,908 shares during the last quarter. Finally, Capital Investment Advisors LLC purchased a new position in The PNC Financial Services Group in the 4th quarter valued at about $330,000. 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 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.