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 company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $0.50 on Monday, hitting $227.87. 711,676 shares of the company traded hands, compared to its average volume of 2,408,181. The business’s 50 day moving average price is $218.12 and its 200-day moving average price is $214.61. The PNC Financial Services Group, Inc has a 52-week low of $172.73 and a 52-week high of $243.94. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $91.51 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.95 and a beta of 0.92.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.51 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE raised its holdings in The PNC Financial Services Group by 13.4% in the 3rd quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock valued at $57,714,000 after acquiring an additional 34,009 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after purchasing an additional 408,464 shares during the last quarter. Truist Financial Corp grew its position in shares of The PNC Financial Services Group by 3.3% in the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after purchasing an additional 39,589 shares in the last quarter. Teamwork Financial Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $13,711,000. Finally, Candriam S.C.A. increased its holdings in shares of The PNC Financial Services Group by 8.0% in the third quarter. Candriam S.C.A. now owns 178,811 shares of the financial services provider’s stock valued at $35,928,000 after purchasing an additional 13,321 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 target price on the stock. Oppenheimer boosted their price objective on The PNC Financial Services Group from $263.00 to $268.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Citigroup raised their price objective on The PNC Financial Services Group from $245.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Company Profile

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.