The PNC Financial Services Group, Inc (NYSE:PNC – Get Free Report) EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. The trade was a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
The PNC Financial Services Group Price Performance
Shares of NYSE:PNC opened at $256.91 on Monday. The business has a 50 day moving average price of $246.72 and a 200 day moving average price of $228.51. The PNC Financial Services Group, Inc has a twelve month low of $176.88 and a twelve month high of $258.13. The company has a market cap of $102.49 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.02 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.51 billion. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.85 EPS. Research analysts predict that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.
The PNC Financial Services Group Increases Dividend
Analysts Set New Price Targets
Several research firms recently commented on PNC. Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 target price for the company. in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a report on Wednesday, July 15th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Royal Bank Of Canada increased their target price on shares of The PNC Financial Services Group from $235.00 to $273.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Finally, Barclays lifted their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and an average target price of $265.73.
Read Our Latest Stock Report on PNC
Institutional Trading of The PNC Financial Services Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of The PNC Financial Services Group during the 2nd quarter worth approximately $7,921,455,000. Norges Bank acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at $1,967,080,000. Viking Global Investors LP grew its position in The PNC Financial Services Group by 234.9% in the third quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock valued at $1,598,753,000 after acquiring an additional 5,581,102 shares during the period. Deutsche Bank AG acquired a new position in The PNC Financial Services Group during the second quarter worth $1,054,189,000. Finally, Jupiter Topco LLC bought a new position in shares of The PNC Financial Services Group during the second quarter valued at $756,877,000. Institutional investors own 83.53% of the company’s stock.
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.
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