PNC Financial Services Group Inc (PNC) Insider Michael J. Hannon Sells 8,011 Shares

PNC Financial Services Group Inc (NYSE:PNC) insider Michael J. Hannon sold 8,011 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the transaction, the insider now directly owns 58,820 shares in the company, valued at $9,070,044. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

PNC Financial Services Group Inc (NYSE PNC) traded up $1.54 during trading hours on Friday, hitting $155.25. 2,735,639 shares of the stock were exchanged, compared to its average volume of 2,622,931. The stock has a market cap of $73,870.00, a P/E ratio of 14.88, a PEG ratio of 1.47 and a beta of 0.90. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 1.24. PNC Financial Services Group Inc has a 12-month low of $115.25 and a 12-month high of $156.15.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 12th. The financial services provider reported $2.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.20 by $0.09. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.97 EPS. analysts expect that PNC Financial Services Group Inc will post 10.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Wednesday, January 17th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, January 16th. PNC Financial Services Group’s dividend payout ratio is presently 28.76%.

Several large investors have recently added to or reduced their stakes in PNC. Vanguard Group Inc. grew its position in PNC Financial Services Group by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock valued at $4,065,151,000 after purchasing an additional 589,235 shares during the last quarter. BlackRock Inc. grew its position in PNC Financial Services Group by 1.3% during the 2nd quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock valued at $3,430,820,000 after purchasing an additional 341,222 shares during the last quarter. FMR LLC grew its position in PNC Financial Services Group by 13.9% during the 2nd quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock valued at $1,957,539,000 after purchasing an additional 1,915,923 shares during the last quarter. JPMorgan Chase & Co. grew its position in PNC Financial Services Group by 7.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock valued at $1,592,394,000 after purchasing an additional 875,164 shares during the last quarter. Finally, Capital World Investors grew its position in PNC Financial Services Group by 6.9% during the 2nd quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock valued at $1,262,761,000 after purchasing an additional 654,997 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the stock. Oppenheimer reissued a “hold” rating on shares of PNC Financial Services Group in a research report on Tuesday. Argus boosted their price objective on shares of PNC Financial Services Group to $170.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada boosted their price objective on shares of PNC Financial Services Group to $170.00 and gave the company an “average” rating in a research report on Friday, January 12th. Wells Fargo & Co set a $157.00 price objective on shares of PNC Financial Services Group and gave the company a “hold” rating in a research report on Tuesday. Finally, ValuEngine downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Eighteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $144.02.

COPYRIGHT VIOLATION WARNING: “PNC Financial Services Group Inc (PNC) Insider Michael J. Hannon Sells 8,011 Shares” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/19/pnc-financial-services-group-inc-pnc-insider-michael-j-hannon-sells-8011-shares.html.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Insider Buying and Selling by Quarter for PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply