Morgan Stanley Boosts The PNC Financial Services Group (NYSE:PNC) Price Target to $186.00

The PNC Financial Services Group (NYSE:PNC) had its price target upped by Morgan Stanley from $179.00 to $186.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential downside of 5.36% from the company’s previous close.

PNC has been the topic of several other research reports. Raymond James Financial raised shares of The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $220.00 target price on the stock in a research report on Tuesday, July 8th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. TD Cowen began coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They set a “buy” rating and a $233.00 target price on the stock. Finally, Barclays reduced their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.76.

The PNC Financial Services Group Price Performance

PNC stock opened at $196.54 on Thursday. The company’s 50-day moving average price is $182.39 and its two-hundred day moving average price is $180.29. The firm has a market cap of $77.75 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.53 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.80 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group has a 12 month low of $145.12 and a 12 month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $5.61 billion. During the same quarter in the prior year, the business earned $3.39 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, analysts anticipate that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff purchased 1,000 shares of the business’s stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director owned 2,009 shares of the company’s stock, valued at $317,863.98. The trade was a 99.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of The PNC Financial Services Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president owned 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,545 shares of company stock worth $1,590,080 over the last 90 days. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently bought and sold shares of PNC. Vanguard Group Inc. boosted its position in shares of The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock worth $6,673,217,000 after purchasing an additional 248,252 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after acquiring an additional 549,278 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of The PNC Financial Services Group by 26.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after acquiring an additional 1,964,157 shares in the last quarter. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $1,352,151,000. Finally, Ameriprise Financial Inc. grew its position in The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock worth $844,967,000 after purchasing an additional 24,588 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.