Insider Selling: The PNC Financial Services Group (NYSE:PNC) EVP Sells $1,710,868.86 in Stock

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the transaction, the executive vice president owned 1,942 shares of the company’s stock, valued at $448,563.16. This represents a 79.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

The PNC Financial Services Group Trading Up 1.1%

The PNC Financial Services Group stock opened at $232.95 on Friday. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $243.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $91.35 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The firm has a 50 day simple moving average of $221.41 and a 200-day simple moving average of $203.29.

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

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 2.9%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on PNC shares. Barclays increased their target price on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. TD Cowen upped their price target on The PNC Financial Services Group from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Oppenheimer increased their price objective on The PNC Financial Services Group from $268.00 to $284.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods raised their price objective on The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada boosted their target price on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $234.44.

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.