The PNC Financial Services Group (NYSE:PNC) Given New $180.00 Price Target at The Goldman Sachs Group

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

Other research analysts have also recently issued reports about the company. UBS Group boosted their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Morgan Stanley upped their target price on shares of 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. Compass Point downgraded shares of The PNC Financial Services Group from a strong-buy rating to a hold rating in a report on Thursday, August 22nd. Citigroup increased their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a buy rating in a report on Wednesday, July 17th. Finally, 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 report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $176.90.

The PNC Financial Services Group Stock Performance

PNC opened at $177.12 on Wednesday. The firm has a market cap of $70.41 billion, a P/E ratio of 14.87, a PEG ratio of 1.96 and a beta of 1.14. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $185.84. The company has a 50 day simple moving average of $174.35 and a two-hundred day simple moving average of $161.33. 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 (NYSE:PNC) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the business posted $3.36 EPS. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a dividend of $1.60 per share. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. The PNC Financial Services Group’s payout ratio is 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares in the company, valued at $87,061,400.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the transaction, the chief executive officer now directly owns 563,395 shares in the company, valued at approximately $94,368,662.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,263 shares of company stock valued at $4,418,109. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

A number of large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC boosted its position in The PNC Financial Services Group by 23.3% in the 1st quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock valued at $1,371,000 after buying an additional 1,604 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,200,000. Envestnet Asset Management Inc. grew its stake in The PNC Financial Services Group by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock worth $239,792,000 after purchasing an additional 6,657 shares in the last quarter. Groupama Asset Managment purchased a new position in The PNC Financial Services Group during the 4th quarter worth $23,578,000. Finally, Integrated Advisors Network LLC raised its position in The PNC Financial Services Group by 7.3% during the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 148 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.