PNC Financial Services Group Inc (PNC) Insider Sells $1,235,296.20 in Stock

PNC Financial Services Group Inc (NYSE:PNC) insider Michael J. Hannon sold 8,011 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $154.20, for a total transaction of $1,235,296.20. Following the completion of the transaction, the insider now directly owns 58,820 shares of the company’s stock, valued at approximately $9,070,044. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

PNC Financial Services Group Inc (NYSE PNC) opened at $155.25 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.94 and a quick ratio of 0.93. PNC Financial Services Group Inc has a 1-year low of $115.25 and a 1-year high of $156.15. The company has a market cap of $73,433.25, a PE ratio of 14.93, a P/E/G ratio of 1.48 and a beta of 0.90.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a net margin of 29.60% and a return on equity of 9.52%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the firm earned $1.97 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. research analysts expect that PNC Financial Services Group Inc will post 10.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Wednesday, January 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Tuesday, January 16th. PNC Financial Services Group’s payout ratio is 28.85%.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of PNC Financial Services Group by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock valued at $4,065,151,000 after acquiring an additional 589,235 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of PNC Financial Services Group by 1.3% in the 2nd quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock valued at $3,430,820,000 after acquiring an additional 341,222 shares during the last quarter. FMR LLC lifted its holdings in shares of PNC Financial Services Group by 13.9% in the 2nd quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock valued at $1,957,539,000 after acquiring an additional 1,915,923 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PNC Financial Services Group by 7.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock valued at $1,592,394,000 after acquiring an additional 875,164 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of PNC Financial Services Group by 6.9% in the 2nd quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock valued at $1,262,761,000 after acquiring an additional 654,997 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on PNC shares. Deutsche Bank reaffirmed a “hold” rating and issued a $136.00 target price (up previously from $130.00) on shares of PNC Financial Services Group in a report on Tuesday, September 26th. Nomura upped their target price on shares of PNC Financial Services Group from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, September 28th. Instinet reaffirmed a “neutral” rating and issued a $132.00 target price (up previously from $129.00) on shares of PNC Financial Services Group in a report on Saturday, September 30th. Robert W. Baird reissued a “buy” rating and set a $135.00 price objective on shares of PNC Financial Services Group in a report on Sunday, October 1st. Finally, Zacks Investment Research downgraded shares of PNC Financial Services Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Eighteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $144.02.

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About PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Insider Buying and Selling by Quarter for PNC Financial Services Group (NYSE:PNC)

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