Alexander Overstrom Sells 2,500 Shares of The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Alexander Overstrom sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $233.91, for a total value of $584,775.00. Following the completion of the sale, the executive vice president owned 21,120 shares of the company’s stock, valued at approximately $4,940,179.20. This trade represents a 10.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $230.26 on Friday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average of $220.96 and a two-hundred day moving average of $202.99. The company has a market capitalization of $90.30 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.97 and a beta of 0.99.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $0.65. The business had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $5.90 billion. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.77 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Tuesday, January 20th were issued 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, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Wall Street Analyst Weigh In

PNC has been the subject of a number of recent analyst reports. Barclays increased their price target on The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. TD Cowen raised their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. upped their price target on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Finally, Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.44.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently modified their holdings of PNC. Quarry LP acquired a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at about $25,000. IMG Wealth Management Inc. bought a new position in The PNC Financial Services Group during the second quarter valued at approximately $27,000. Modus Advisors LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, EFG International AG acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.