The PNC Financial Services Group, Inc. (NYSE:PNC – Get Rating) has received a consensus rating of “Hold” from the twenty research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $178.77.
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A number of research firms recently weighed in on PNC. Wolfe Research increased their price objective on shares of The PNC Financial Services Group from $164.00 to $170.00 in a research report on Thursday, December 1st. Morgan Stanley dropped their price target on The PNC Financial Services Group from $178.00 to $163.00 and set an “underweight” rating on the stock in a research report on Thursday, January 19th. Credit Suisse Group lowered their target price on The PNC Financial Services Group from $170.00 to $165.00 and set a “neutral” rating for the company in a report on Thursday, January 19th. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $162.00 to $165.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 4th. Finally, Citigroup raised their price target on shares of The PNC Financial Services Group to $180.00 in a report on Friday, December 2nd.
Insiders Place Their Bets
In other news, CEO William S. Demchak bought 6,550 shares of the stock in a transaction dated Friday, January 20th. The shares were acquired at an average price of $153.38 per share, with a total value of $1,004,639.00. Following the completion of the acquisition, the chief executive officer now directly owns 482,924 shares in the company, valued at $74,070,883.12. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO William S. Demchak purchased 6,550 shares of the company’s stock in a transaction on Friday, January 20th. The stock was bought at an average cost of $153.38 per share, for a total transaction of $1,004,639.00. Following the completion of the purchase, the chief executive officer now directly owns 482,924 shares of the company’s stock, valued at approximately $74,070,883.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Guild Deborah sold 2,833 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $159.66, for a total value of $452,316.78. Following the sale, the executive vice president now owns 20,527 shares of the company’s stock, valued at approximately $3,277,340.82. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.
Hedge Funds Weigh In On The PNC Financial Services Group
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blair William & Co. IL boosted its stake in The PNC Financial Services Group by 0.5% during the 1st quarter. Blair William & Co. IL now owns 16,997 shares of the financial services provider’s stock valued at $3,135,000 after purchasing an additional 89 shares during the period. Cetera Investment Advisers lifted its position in The PNC Financial Services Group by 12.0% during the 1st quarter. Cetera Investment Advisers now owns 16,141 shares of the financial services provider’s stock valued at $2,977,000 after purchasing an additional 1,724 shares during the period. Covestor Ltd raised its stake in shares of The PNC Financial Services Group by 68.8% during the first quarter. Covestor Ltd now owns 336 shares of the financial services provider’s stock worth $62,000 after buying an additional 137 shares during the last quarter. West Family Investments Inc. grew its position in shares of The PNC Financial Services Group by 9.1% during the 1st quarter. West Family Investments Inc. now owns 1,164 shares of the financial services provider’s stock worth $215,000 after buying an additional 97 shares during the period. Finally, Ergoteles LLC grew its holdings in shares of The PNC Financial Services Group by 137.9% in the 1st quarter. Ergoteles LLC now owns 21,048 shares of the financial services provider’s stock valued at $3,882,000 after buying an additional 12,201 shares during the period. 82.05% of the stock is currently owned by institutional investors and hedge funds.
The PNC Financial Services Group Trading Down 0.2 %
Shares of NYSE:PNC opened at $162.86 on Tuesday. The stock has a market capitalization of $65.68 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.36 and a beta of 1.16. The PNC Financial Services Group has a 52-week low of $143.52 and a 52-week high of $214.50. The stock’s 50-day simple moving average is $158.92 and its two-hundred day simple moving average is $159.86. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.79 and a current ratio of 0.79.
The PNC Financial Services Group (NYSE:PNC – Get Rating) last issued its earnings results on Wednesday, January 18th. The financial services provider reported $3.49 earnings per share for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.46). The PNC Financial Services Group had a return on equity of 12.88% and a net margin of 25.73%. The company had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the company posted $2.86 EPS. The PNC Financial Services Group’s revenue was up 12.4% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group will post 14.94 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Sunday, February 5th. Investors of record on Tuesday, January 17th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Friday, January 13th. The PNC Financial Services Group’s dividend payout ratio is currently 43.26%.
About The PNC Financial Services Group
The PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.
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