Martin Pfinsgraff Sells 859 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) Stock

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

The PNC Financial Services Group Price Performance

PNC opened at $185.81 on Friday. The firm has a market cap of $73.94 billion, a P/E ratio of 15.60, a PEG ratio of 1.98 and a beta of 1.14. 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, Inc. has a fifty-two week low of $110.79 and a fifty-two week high of $196.64. The firm has a 50-day moving average of $182.30 and a 200 day moving average of $167.97.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business posted $3.60 EPS. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on PNC shares. 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 report on Thursday, August 15th. 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 research report on Wednesday, July 17th. Citigroup boosted their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada increased their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $185.71.

Institutional Investors Weigh In On The PNC Financial Services Group

Several large investors have recently added to or reduced their stakes in PNC. Financial Advocates Investment Management increased its stake in shares of The PNC Financial Services Group by 5.5% in the third quarter. Financial Advocates Investment Management now owns 1,905 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 99 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in The PNC Financial Services Group by 242.6% in the 3rd quarter. JFS Wealth Advisors LLC now owns 10,341 shares of the financial services provider’s stock valued at $1,912,000 after buying an additional 7,323 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in The PNC Financial Services Group by 6.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 77,328 shares of the financial services provider’s stock valued at $14,294,000 after acquiring an additional 4,655 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of The PNC Financial Services Group by 16.5% during the third quarter. First Trust Direct Indexing L.P. now owns 14,355 shares of the financial services provider’s stock worth $2,654,000 after acquiring an additional 2,031 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its holdings in shares of The PNC Financial Services Group by 10.8% in the third quarter. Valmark Advisers Inc. now owns 3,954 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 385 shares during the period. 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 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.