PNC Financial Services Group, Inc. (NYSE: PNC) Executive Vice President and Chief Operating Officer Guild Deborah sold 2,833 shares on Thursday, November 17. A total of $452,316.78 was received for the sale of the shares, which works out to an average price of $159.66 per share. As a direct consequence of the transaction, the executive vice president now has ownership of 20,527 shares of company stock with a combined value of $3,277,340.82. This information about the transaction was submitted to the Securities and Exchange Commission in the form of a filing, which can be found by following this link.
On Friday, October 14, 2018, PNC Financial Services Group (NYSE: PNC) disseminated its most recent quarterly earnings report to the public. The firm that provides financial services reported earnings of $3.78 per share for the quarter, which is $0.09 more than the consensus estimate of $3.69 per share. The revenue the corporation brought in for the quarter was $5.55 billion, more than the projection of $5.40 billion that was widely held. At PNC Financial Services Group, the company’s return on equity was 12.45%, and its net margin was 26.96%. The company’s quarterly revenue rise was 6.8% higher when measured against the same quarter from the previous year. The company posted earnings of $3.75 per share during the previous year. PNC Financial Services Group, Inc. will end the current fiscal year with earnings of $14.43 per share, according to projections made by research analysts.
In addition, the company announced the payment of a quarterly dividend on November 5, the same day the dividend was handed out. The payment of dividends at a rate of $1.50 per share was made to shareholders on record as of October 17. On Friday, October 14, shareholders were required to pay an amount equal to this dividend. This translates to a dividend payment of $6.00 per year and a yield of 3.69%. PNC Financial Services Group has a dividend payout ratio (DPR) of 45.25 percent.
During trading on Monday, PNC share prices increased by $1.30 to settle at $162.46. In all, 40,664 business shares were traded, much lower than the daily volume of 2,141,484 shares. The price of PNC Financial Services Group, Inc. has ranged from a low of $143.52 to a high of $228.14 during the past 52 weeks. The stock has a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 2.42, and a beta value of 1.16. It is currently valued at $65.52 billion. The company now has a simple moving average of $157.36 over the past fifty days, and its simple moving average over the past 200 days is $160.98. The debt-to-equity ratio comes in at 1.17, while the quick and current ratios come in at 0.78.
PNC has been the subject of research conducted by multiple brokerage firms. Compass Point lowered their price target on The PNC Financial Services Group stock to $160.00 in a research report published on Thursday, October 20. Morgan Stanley lowered their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set the stock to an “underweight” rating in a research report published on Wednesday, October 5. The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $162.00 to $165.00 and set the stock to a “neutral” rating in a research report published on Tuesday, October 4. The report was made public. In addition, the target price that JPMorgan Chase & Co. has set for the shares of The PNC Financial Services Group has dropped from $191.00 to $171.50 per share, as stated in a report that was published on Tuesday, October 11. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The PNC Financial Services Group from $215.00 to $200.00 and set the company a “hold” rating in a research report that was published on Monday, September 12. One research expert suggests purchasing the stock, seven suggest hanging onto it, and five suggest selling it. According to the data from Bloomberg, the stock is now rated as having a “Hold” average rating and has a target price of $188.56.
Recent events have resulted in significant institutional investors changing their stock holdings. T. Rowe Price & Company, Inc. (MD) boosted the percentage of ownership it had in The PNC Financial Services Group by 21.5% during the second quarter. T. Rowe Price & Company, Inc. now owns 13,413,715 shares of the financial services provider’s stock, valued at $2,116,282,000 after the company made new purchases totaling 2,373,814 shares during the period. Federated Hermes Inc. grew its holdings in The PNC Financial Services Group by 56,674.0% during the second quarter. Following the acquisition of 1,942,219 shares during the preceding quarter, Federated Hermes Inc. now holds a total of 1,945,646 shares of the company held by the financial services provider, which have a value of $306,965,000. During the third quarter, Neuberger Berman Group LLC grew its holdings in The PNC Financial Services Group by 39.2 percent. Following the acquisition of an additional 820,537 shares during the period, Neuberger Berman Group LLC currently holds a total of 2,913,910 shares of the stock held by the financial services provider. The value of these shares is around $435,463,000. State Street Corp.’s ownership percentage in the PNC Financial Services Group was up by 3.3% during the third quarter. After purchasing an additional 595,811 shares during the most recent quarter, State Street Corp. now owns 18,436,065 stock held by the financial services provider. The current value of these shares is $2,754,717,000. During the first three months of the year, BlackRock Inc. boosted the percentage of The PNC Financial Services Group’s stock that is owned by 2.0%. BlackRock Inc. now owns 30,563,752 shares of the financial services provider’s stock, valued at $5,637,484,000 after the company made another purchase of 589,293 shares during the period. Now, hedge funds and other institutional investors hold 81.89% of the company’s shares.

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