The PNC Financial Services Group, Inc. (NYSE:PNC) Director Andrew T. Feldstein Sells 14,509 Shares

The PNC Financial Services Group, Inc. (NYSE:PNC) Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

The PNC Financial Services Group Stock Down 0.8 %

NYSE PNC opened at $209.27 on Thursday. The PNC Financial Services Group, Inc. has a one year low of $122.75 and a one year high of $214.19. The company has a market cap of $83.03 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.23 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average price of $186.55 and a 200 day moving average price of $171.93.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm earned $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.41 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.06%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PNC. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Royal Bank of Canada lifted their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Stephens lifted their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $185.71.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of PNC. International Assets Investment Management LLC increased its holdings in The PNC Financial Services Group by 12,940.0% during the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock worth $99,262,000 after purchasing an additional 532,871 shares during the period. Assenagon Asset Management S.A. raised its holdings in The PNC Financial Services Group by 160.9% in the third quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock valued at $129,836,000 after acquiring an additional 433,178 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in The PNC Financial Services Group by 152.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after acquiring an additional 276,200 shares during the last quarter. Hsbc Holdings PLC grew its holdings in The PNC Financial Services Group by 24.1% during the 2nd quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after acquiring an additional 262,654 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after purchasing an additional 254,356 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.