Louis Robert Cestello Sells 4,279 Shares of The PNC Financial Services Group (NYSE:PNC) Stock

The PNC Financial Services Group, Inc (NYSE:PNC) EVP Louis Robert Cestello sold 4,279 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total value of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares of the company’s stock, valued at $4,415,066.67. This represents a 18.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

The PNC Financial Services Group Stock Down 1.1%

Shares of NYSE:PNC opened at $230.26 on Friday. The stock has a 50-day simple moving average of $220.96 and a 200-day simple moving average of $202.99. The stock has a market capitalization of $90.30 billion, a P/E ratio of 13.88, a PEG ratio of 0.97 and a beta of 0.99. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $243.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The firm had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the previous year, the company posted $3.77 earnings per share. The PNC Financial Services Group’s revenue was up 9.1% compared to the same quarter last year. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Tuesday, January 20th were given a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.0%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 40.99%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PNC shares. Royal Bank Of Canada boosted their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 20th. JPMorgan Chase & Co. lifted their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Wells Fargo & Company boosted their target price on shares of The PNC Financial Services Group from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a research note on Tuesday, January 20th. Finally, TD Cowen lifted their price target on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Fifteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average price target of $234.44.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PNC. Quarry LP acquired a new position in The PNC Financial Services Group in the third quarter worth about $25,000. Modus Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at approximately $29,000. IMG Wealth Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $27,000. Kemnay Advisory Services Inc. bought a new position in The PNC Financial Services Group during the fourth quarter worth $32,000. Finally, EFG International AG acquired a new position in The PNC Financial Services Group in the fourth quarter worth $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.