Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) EVP Sells 850 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) EVP Richard Kevin Bynum sold 850 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

The PNC Financial Services Group Price Performance

PNC traded up $1.09 on Wednesday, reaching $157.24. The stock had a trading volume of 1,254,443 shares, compared to its average volume of 2,038,685. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The firm has a 50-day moving average of $154.02 and a 200-day moving average of $145.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $62.55 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.98 EPS. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PNC shares. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. UBS Group boosted their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Bank of America boosted their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lowered their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $157.02.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently made changes to their positions in PNC. Bleakley Financial Group LLC lifted its stake in The PNC Financial Services Group by 5.0% in the first quarter. Bleakley Financial Group LLC now owns 13,823 shares of the financial services provider’s stock valued at $2,234,000 after buying an additional 659 shares during the period. QRG Capital Management Inc. increased its stake in shares of The PNC Financial Services Group by 8.0% in the 1st quarter. QRG Capital Management Inc. now owns 39,479 shares of the financial services provider’s stock valued at $6,380,000 after acquiring an additional 2,940 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of The PNC Financial Services Group by 7.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 7,300 shares of the financial services provider’s stock valued at $1,180,000 after acquiring an additional 483 shares during the period. Meeder Asset Management Inc. bought a new position in The PNC Financial Services Group during the first quarter worth $382,000. Finally, Choate Investment Advisors boosted its stake in The PNC Financial Services Group by 1.8% during the 1st quarter. Choate Investment Advisors now owns 8,788 shares of the financial services provider’s stock valued at $1,420,000 after purchasing an additional 158 shares during 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 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.