PNC Financial Services Group (NYSE:PNC) had its price objective upped by investment analysts at Morgan Stanley from $165.00 to $168.00 in a research note issued to investors on Friday. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price points to a potential upside of 6.35% from the stock’s previous close.
Several other research firms have also recently weighed in on PNC. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $162.00 price target on shares of PNC Financial Services Group in a research note on Friday, December 29th. Zacks Investment Research raised shares of PNC Financial Services Group from a “hold” rating to a “buy” rating and set a $154.00 price target for the company in a research note on Tuesday, October 31st. Goldman Sachs Group cut shares of PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Credit Suisse Group reissued a “hold” rating and issued a $150.00 price target on shares of PNC Financial Services Group in a research note on Friday, January 5th. Finally, UBS Group increased their price target on shares of PNC Financial Services Group from $133.00 to $135.00 and gave the company a “neutral” rating in a research note on Monday, October 16th. Eighteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $145.98.
Shares of PNC Financial Services Group (PNC) traded down $1.13 during midday trading on Friday, reaching $157.97. 2,780,000 shares of the company traded hands, compared to its average volume of 2,100,000. PNC Financial Services Group has a one year low of $115.25 and a one year high of $160.07. The stock has a market cap of $75,160.00, a PE ratio of 15.15, a PEG ratio of 1.49 and a beta of 0.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.93 and a current ratio of 0.94.
In other PNC Financial Services Group news, insider Robert Q. Reilly sold 19,576 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $145.51, for a total transaction of $2,848,503.76. Following the sale, the insider now directly owns 103,299 shares in the company, valued at approximately $15,031,037.49. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider E William Parsley III sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $138.68, for a total transaction of $3,467,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 108,399 shares of company stock valued at $15,523,032 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in PNC. FIL Ltd lifted its holdings in PNC Financial Services Group by 25.9% during the 2nd quarter. FIL Ltd now owns 807,325 shares of the financial services provider’s stock worth $100,811,000 after buying an additional 166,299 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. lifted its holdings in PNC Financial Services Group by 10.1% during the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 162,032 shares of the financial services provider’s stock worth $20,233,000 after buying an additional 14,911 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of PNC Financial Services Group in the 2nd quarter valued at $531,000. Connors Investor Services Inc. raised its holdings in shares of PNC Financial Services Group by 8.9% in the 2nd quarter. Connors Investor Services Inc. now owns 80,879 shares of the financial services provider’s stock valued at $10,099,000 after purchasing an additional 6,612 shares in the last quarter. Finally, Mariner Wealth Advisors LLC raised its holdings in shares of PNC Financial Services Group by 4.0% in the 2nd quarter. Mariner Wealth Advisors LLC now owns 27,850 shares of the financial services provider’s stock valued at $3,477,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors own 82.11% of the company’s stock.
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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.
