Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) Director Sells 14,509 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the sale, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

The PNC Financial Services Group Price Performance

NYSE:PNC traded down $1.89 during trading hours on Wednesday, reaching $209.15. The stock had a trading volume of 738,448 shares, compared to its average volume of 1,869,385. 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 stock has a market capitalization of $82.99 billion, a PE ratio of 18.01, a PEG ratio of 2.23 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $122.75 and a 52 week high of $214.10. The company has a 50 day moving average price of $186.55 and a two-hundred day moving average price of $171.93.

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

The PNC Financial Services Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. UBS Group lifted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Finally, Stephens upped their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.71.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in shares of The PNC Financial Services Group by 8.7% in the 1st quarter. Empowered Funds LLC now owns 5,322 shares of the financial services provider’s stock worth $860,000 after buying an additional 426 shares during the period. Concurrent Investment Advisors LLC increased its holdings in The PNC Financial Services Group by 22.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 3,865 shares of the financial services provider’s stock worth $624,000 after buying an additional 721 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of The PNC Financial Services Group by 5.0% during the first quarter. Bleakley Financial Group LLC now owns 13,823 shares of the financial services provider’s stock worth $2,234,000 after purchasing an additional 659 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $1,426,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in The PNC Financial Services Group by 20.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 474,986 shares of the financial services provider’s stock worth $76,758,000 after purchasing an additional 79,482 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

About The PNC Financial Services Group

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.