Traders Sell Shares of PNC Financial Services Group (PNC) on Strength (PNC)

Investors sold shares of PNC Financial Services Group Inc (NYSE:PNC) on strength during trading on Friday. $96.68 million flowed into the stock on the tick-up and $164.24 million flowed out of the stock on the tick-down, for a money net flow of $67.56 million out of the stock. Of all companies tracked, PNC Financial Services Group had the 23rd highest net out-flow for the day. PNC Financial Services Group traded up $0.35 for the day and closed at $151.84

Several research firms have weighed in on PNC. ValuEngine downgraded PNC Financial Services Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Credit Suisse Group restated a “hold” rating and issued a $150.00 price target on shares of PNC Financial Services Group in a research note on Friday, January 5th. Goldman Sachs Group cut PNC Financial Services Group from a “conviction-buy” rating to a “buy” rating in a report on Thursday, January 4th. Barclays upped their price objective on PNC Financial Services Group from $139.00 to $168.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $162.00 price objective on shares of PNC Financial Services Group in a report on Friday, December 29th. Seventeen equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus price target of $141.08.

The firm has a market cap of $72,250.00, a price-to-earnings ratio of 18.49, a PEG ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.92 and a quick ratio of 0.92.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 11th. The financial services provider reported $2.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.09. PNC Financial Services Group had a return on equity of 9.29% and a net margin of 24.61%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the firm posted $1.97 EPS. PNC Financial Services Group’s quarterly revenue was up 10.0% compared to the same quarter last year. equities analysts forecast that PNC Financial Services Group Inc will post 8.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Wednesday, January 17th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, January 16th. This represents a $3.00 annualized dividend and a yield of 1.98%. PNC Financial Services Group’s payout ratio is presently 22.53%.

In related news, insider Orlando C. Esposito sold 4,505 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $138.85, for a total transaction of $625,519.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $135.00, for a total value of $675,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 108,523 shares of company stock worth $15,392,168 in the last 90 days. 0.43% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in PNC. Twin Capital Management Inc. raised its holdings in PNC Financial Services Group by 5.4% during the 2nd quarter. Twin Capital Management Inc. now owns 84,006 shares of the financial services provider’s stock valued at $10,490,000 after buying an additional 4,277 shares during the period. First National Trust Co. increased its stake in PNC Financial Services Group by 3.0% in the second quarter. First National Trust Co. now owns 33,861 shares of the financial services provider’s stock worth $4,228,000 after purchasing an additional 996 shares during the period. Victory Capital Management Inc. increased its stake in PNC Financial Services Group by 1.1% in the second quarter. Victory Capital Management Inc. now owns 300,275 shares of the financial services provider’s stock worth $37,495,000 after purchasing an additional 3,389 shares during the period. Aviva PLC increased its stake in PNC Financial Services Group by 0.4% in the second quarter. Aviva PLC now owns 306,027 shares of the financial services provider’s stock worth $38,207,000 after purchasing an additional 1,100 shares during the period. Finally, ProVise Management Group LLC purchased a new stake in PNC Financial Services Group in the second quarter worth $287,000. Institutional investors own 81.49% of the company’s stock.

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About PNC Financial Services Group

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.

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