Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) EVP Sells 850 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares in the company, valued at approximately $545,856.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

The PNC Financial Services Group Stock Up 0.7 %

Shares of NYSE PNC traded up $1.09 during trading hours on Wednesday, hitting $157.24. The stock had a trading volume of 1,254,443 shares, compared to its average volume of 2,038,685. The company has a market capitalization of $62.55 billion, a P/E ratio of 13.20, a P/E/G ratio of 1.77 and a beta of 1.16. The firm’s 50-day moving average price is $154.02 and its two-hundred day moving average price is $145.39. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.98 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a yield of 3.94%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of large investors have recently added to or reduced their stakes in PNC. Capital International Investors boosted its position in shares of The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after acquiring an additional 1,978,854 shares during the period. FMR LLC boosted its position in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after acquiring an additional 893,808 shares during the period. Norges Bank bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,039,481,000. Invesco Ltd. boosted its position in shares of The PNC Financial Services Group by 10.4% in the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after acquiring an additional 484,475 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of The PNC Financial Services Group by 165.4% in the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after acquiring an additional 3,046,226 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PNC shares. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com downgraded The PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Bank of America boosted their price objective on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. The Goldman Sachs Group upped their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, Evercore ISI dropped their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $157.02.

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.