Andrew Feldstein Sells 45,000 Shares of The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group, Inc (NYSE:PNC) Director Andrew Feldstein sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. The trade was a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

The PNC Financial Services Group Trading Up 0.7%

PNC opened at $221.36 on Friday. The business has a 50 day simple moving average of $216.27 and a two-hundred day simple moving average of $213.05. The firm has a market capitalization of $88.89 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.91 and a beta of 0.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a one year low of $170.49 and a one year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The PNC Financial Services Group’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.51 EPS. Analysts predict that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, April 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is presently 39.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays upped their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. JPMorgan Chase & Co. upped their price target on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $235.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 15th. Bank of America upped their target price on The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in The PNC Financial Services Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock valued at $8,114,168,000 after purchasing an additional 408,464 shares during the last quarter. State Street Corp increased its holdings in shares of The PNC Financial Services Group by 0.4% in the 4th quarter. State Street Corp now owns 17,319,434 shares of the financial services provider’s stock worth $3,615,085,000 after purchasing an additional 77,302 shares in the last quarter. Capital International Investors increased its holdings in shares of The PNC Financial Services Group by 10.2% in the 4th quarter. Capital International Investors now owns 11,936,742 shares of the financial services provider’s stock worth $2,491,819,000 after purchasing an additional 1,101,055 shares in the last quarter. Norges Bank bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $1,967,080,000. Finally, Geode Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,861,852 shares of the financial services provider’s stock worth $1,841,387,000 after purchasing an additional 30,078 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

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.