Jefferies Financial Group Lowers The PNC Financial Services Group (NYSE:PNC) Price Target to $162.00

The PNC Financial Services Group (NYSE:PNC) had its price objective lowered by equities researchers at Jefferies Financial Group from $171.00 to $162.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 9.59% from the stock’s previous close.

Other research analysts have also issued research reports about the company. UBS Group upped their price target on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Morgan Stanley increased their target price on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday. Evercore ISI decreased their target price on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $156.63.

The PNC Financial Services Group Trading Up 0.4 %

Shares of PNC stock opened at $147.82 on Wednesday. The stock has a market capitalization of $58.80 billion, a PE ratio of 12.41, a P/E/G ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group has a 1-year low of $109.40 and a 1-year high of $162.24. The business has a 50-day moving average of $151.80 and a 200 day moving average of $141.72. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The PNC Financial Services Group’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.98 EPS. As a group, sell-side analysts anticipate that The PNC Financial Services Group will post 12.42 earnings per share for the current year.

Insider Activity at The PNC Financial Services Group

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new stake in The PNC Financial Services Group during the fourth quarter valued at about $1,039,481,000. Franklin Resources Inc. raised its holdings in The PNC Financial Services Group by 165.4% during the fourth quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after acquiring an additional 3,046,226 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in The PNC Financial Services Group by 122,771.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,540,984 shares of the financial services provider’s stock valued at $401,323,000 after acquiring an additional 2,538,916 shares during the period. Capital International Investors raised its holdings in The PNC Financial Services Group by 14.4% during the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock valued at $2,437,361,000 after acquiring an additional 1,978,854 shares during the period. Finally, Morgan Stanley raised its holdings in The PNC Financial Services Group by 28.7% during the fourth quarter. Morgan Stanley now owns 4,685,960 shares of the financial services provider’s stock valued at $740,101,000 after acquiring an additional 1,045,055 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Company Profile

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.