The PNC Financial Services Group (NYSE:PNC) Price Target Increased to $177.00 by Analysts at Morgan Stanley

The PNC Financial Services Group (NYSE:PNC) had its price target hoisted by Morgan Stanley from $165.00 to $177.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

PNC has been the topic of several other research reports. Jefferies Financial Group raised their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a hold rating in a research report on Wednesday, July 3rd. StockNews.com raised The PNC Financial Services Group from a sell rating to a hold rating in a research note on Wednesday, May 29th. The Goldman Sachs Group boosted their target price on The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a neutral rating in a research note on Wednesday, July 17th. UBS Group lifted their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an outperform rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of Hold and a consensus target price of $176.09.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $170.00 on Tuesday. The stock has a market capitalization of $67.64 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.33 and a beta of 1.15. The PNC Financial Services Group has a twelve month low of $109.40 and a twelve month high of $182.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average of $162.13 and a 200 day moving average of $155.99.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.36 earnings per share. Sell-side analysts anticipate that The PNC Financial Services Group will post 13.02 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be paid a $1.60 dividend. The ex-dividend date is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.76%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the completion of the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at $101,233,217.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,903 shares of company stock valued at $3,463,786. 0.42% of the stock is owned by corporate insiders.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently modified their holdings of the business. Capital International Investors grew its stake in The PNC Financial Services Group by 0.5% in the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after purchasing an additional 78,407 shares in the last quarter. Norges Bank bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $1,039,481,000. Franklin Resources Inc. raised its holdings in shares of 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 buying an additional 3,046,226 shares during the last quarter. Capital Research Global Investors raised its holdings in The PNC Financial Services Group by 19.5% during the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after purchasing an additional 778,264 shares in the last quarter. Finally, Putnam Investments LLC raised its holdings in The PNC Financial Services Group by 3.2% during the fourth quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock worth $568,662,000 after purchasing an additional 114,960 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

About The PNC Financial Services Group

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.