Karen L. Larrimer Sells 3,135 Shares of PNC Financial Services Group, Inc. (The) (PNC) Stock

PNC Financial Services Group, Inc. (The) (NYSE:PNC) insider Karen L. Larrimer sold 3,135 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $136.98, for a total value of $429,432.30. Following the completion of the transaction, the insider now directly owns 20,449 shares in the company, valued at $2,801,104.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.03. The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.61% and a return on equity of 9.29%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.63%.

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Several research analysts have commented on the company. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday. Nomura raised their price objective on PNC Financial Services Group, Inc. (The) from $132.00 to $135.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. J P Morgan Chase & Co raised their price objective on PNC Financial Services Group, Inc. (The) from $139.50 to $140.50 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup Inc. reissued a “neutral” rating and issued a $144.00 price objective (up from $125.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, October 9th. Finally, Instinet reissued a “neutral” rating and issued a $132.00 price objective (up from $129.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Saturday, September 30th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $133.99.

Several institutional investors and hedge funds have recently made changes to their positions in PNC. BlackRock Inc. raised its position in shares of PNC Financial Services Group, Inc. (The) by 2,833.1% during the first quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock valued at $3,262,582,000 after buying an additional 26,208,815 shares during the last quarter. FMR LLC raised its position in shares of PNC Financial Services Group, Inc. (The) by 19.4% during the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock valued at $1,654,586,000 after buying an additional 2,239,716 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of PNC Financial Services Group, Inc. (The) by 240.4% during the second quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock valued at $298,281,000 after buying an additional 1,686,944 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of PNC Financial Services Group, Inc. (The) by 2,624.0% during the second quarter. Janus Henderson Group PLC now owns 1,707,697 shares of the financial services provider’s stock valued at $213,239,000 after buying an additional 1,645,007 shares during the last quarter. Finally, Koch Industries Inc. raised its position in shares of PNC Financial Services Group, Inc. (The) by 78,828.1% during the second quarter. Koch Industries Inc. now owns 1,350,459 shares of the financial services provider’s stock valued at $1,340,000 after buying an additional 1,348,748 shares during the last quarter. 80.79% of the stock is owned by institutional investors and hedge funds.

PNC Financial Services Group, Inc. (The) Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Insider Buying and Selling by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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