PNC Financial Services Group Inc (NYSE:PNC) EVP Joseph E. Rockey Sells 10,000 Shares of Stock

PNC Financial Services Group Inc (NYSE:PNC) EVP Joseph E. Rockey sold 10,000 shares of PNC Financial Services Group stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the completion of the transaction, the executive vice president now directly owns 18,453 shares in the company, valued at approximately $2,675,685. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of PNC stock opened at $145.46 on Wednesday. The company’s fifty day simple moving average is $138.84 and its 200-day simple moving average is $134.94. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a market cap of $63.90 billion, a PE ratio of 13.58, a P/E/G ratio of 1.74 and a beta of 1.13. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $146.88.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, topping the Zacks’ consensus estimate of $2.80 by $0.14. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.41 billion. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. On average, equities analysts predict that PNC Financial Services Group Inc will post 11.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, October 16th. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

Hedge funds have recently made changes to their positions in the company. Nicolet Advisory Services LLC increased its holdings in PNC Financial Services Group by 9.6% during the third quarter. Nicolet Advisory Services LLC now owns 1,964 shares of the financial services provider’s stock worth $275,000 after buying an additional 172 shares during the last quarter. DeDora Capital Inc. acquired a new position in shares of PNC Financial Services Group in the third quarter valued at $210,000. Prospera Financial Services Inc increased its holdings in shares of PNC Financial Services Group by 90.8% in the third quarter. Prospera Financial Services Inc now owns 3,863 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 1,838 shares during the last quarter. CWM LLC increased its holdings in shares of PNC Financial Services Group by 6,644.7% in the third quarter. CWM LLC now owns 98,675 shares of the financial services provider’s stock valued at $13,830,000 after purchasing an additional 97,212 shares during the last quarter. Finally, Horan Capital Advisors LLC. acquired a new position in shares of PNC Financial Services Group in the third quarter valued at $135,000. 80.82% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on PNC. Barclays set a $158.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley set a $141.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Friday, August 9th. Wells Fargo & Co lifted their price target on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird set a $141.00 price target on shares of PNC Financial Services Group and gave the company a “buy” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $143.74.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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