Andrew Feldstein Sells 45,000 Shares of The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group, Inc (NYSE:PNC) Director Andrew Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.86 during trading hours on Thursday, reaching $219.94. 1,591,195 shares of the company traded hands, compared to its average volume of 2,457,267. The stock’s fifty day moving average is $215.54 and its 200 day moving average is $212.73. The stock has a market cap of $88.32 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc has a 1-year low of $170.49 and a 1-year high of $243.94.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the business earned $3.51 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts anticipate that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is 39.51%.

Analyst Ratings Changes

Several research firms recently issued reports on PNC. JPMorgan Chase & Co. increased their price target on shares of The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Jefferies Financial Group began coverage on shares of The PNC Financial Services Group in a research report on Thursday, March 26th. They issued a “buy” rating and a $250.00 price target for the company. Oppenheimer increased their price target on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.11.

Institutional Trading of The PNC Financial Services Group

Hedge funds have recently modified their holdings of the company. Monetary Solutions Ltd acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Quarry LP acquired a new position in The PNC Financial Services Group in the third quarter worth $25,000. Modus Advisors LLC acquired a new position in The PNC Financial Services Group in the fourth quarter worth $29,000. Financial Life Planners acquired a new position in The PNC Financial Services Group in the first quarter worth $31,000. Finally, Wilkerson Advisory Group LLC boosted its stake in The PNC Financial Services Group by 93.4% in the first quarter. Wilkerson Advisory Group LLC now owns 147 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.