The Goldman Sachs Group Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $180.00

The PNC Financial Services Group (NYSE:PNC) had its price target decreased by The Goldman Sachs Group from $189.00 to $180.00 in a research report released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

PNC has been the topic of a number of other reports. Royal Bank of Canada lifted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an outperform rating in a research report on Wednesday, July 17th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. Barclays lifted their target price on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an overweight rating in a research report on Wednesday, July 17th. UBS Group lifted their target price on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley lifted their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an underweight rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $176.90.

The PNC Financial Services Group Trading Down 0.2 %

NYSE:PNC opened at $177.24 on Wednesday. The business’s 50-day moving average is $175.16 and its two-hundred day moving average is $161.77. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $185.84. The firm has a market capitalization of $70.45 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company posted $3.36 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a $1.60 dividend. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $183.17, for a total transaction of $227,497.14. Following the completion of the transaction, the chief executive officer now directly owns 554,701 shares in the company, valued at $101,604,582.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The disclosure for this sale can be found here. Insiders sold a total of 25,263 shares of company stock worth $4,418,109 over the last ninety days. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC boosted its position in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares during the period. Bank & Trust Co bought a new stake in The PNC Financial Services Group during the second quarter worth approximately $26,000. LRI Investments LLC bought a new stake in The PNC Financial Services Group during the first quarter worth approximately $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group during the first quarter worth approximately $29,000. Finally, Fortis Group Advisors LLC raised its holdings in The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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.