The Goldman Sachs Group Lowers The PNC Financial Services Group (NYSE:PNC) Price Target to $180.00

The PNC Financial Services Group (NYSE:PNC) had its target price reduced by research analysts at The Goldman Sachs Group from $189.00 to $180.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 2.62% from the company’s current price.

Other equities analysts have also issued research reports about the company. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Citigroup upped their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada upped their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Barclays raised their target price on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Evercore ISI upped their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $176.90.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $3.37 on Wednesday, hitting $175.41. The company’s stock had a trading volume of 809,948 shares, compared to its average volume of 1,885,137. The firm has a fifty day moving average price of $173.97 and a 200-day moving average price of $161.22. The PNC Financial Services Group has a 52-week low of $109.40 and a 52-week high of $185.84. The company has a market capitalization of $69.73 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.36 EPS. On average, equities research analysts expect that The PNC Financial Services Group will post 13.1 earnings per share for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The disclosure for this sale can be found here. Insiders sold 25,263 shares of company stock worth $4,418,109 in the last 90 days. Insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $1,039,481,000. Franklin Resources Inc. raised its position in shares of The PNC Financial Services Group by 165.4% in 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 purchasing an additional 3,046,226 shares during the period. Capital International Investors grew its stake in shares of The PNC Financial Services Group by 14.4% in the fourth quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after acquiring an additional 1,978,854 shares during the last quarter. Capital Research Global Investors grew its stake in shares of The PNC Financial Services Group by 19.5% in 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 acquiring an additional 778,264 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in The PNC Financial Services Group by 4,040.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 406,058 shares of the financial services provider’s stock worth $62,878,000 after buying an additional 396,252 shares in the last quarter. 83.53% of the stock is currently owned by 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.