Morgan Stanley Cuts The PNC Financial Services Group (NYSE:PNC) Price Target to $179.00

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective reduced by Morgan Stanley from $188.00 to $179.00 in a report issued on Monday,Benzinga reports. The firm currently has an "underweight" rating on the financial services provider's stock. Morgan Stanley's price target indicates a potential upside of 18.10% from the company's current price.

Other analysts also recently issued research reports about the stock. Citigroup reduced their price objective on shares of 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. Truist Financial reduced their price target on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a "hold" rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group decreased their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Compass Point lifted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $203.47.

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The PNC Financial Services Group Stock Down 0.4 %

Shares of PNC stock traded down $0.59 on Monday, reaching $151.57. 3,850,177 shares of the stock were exchanged, compared to its average volume of 1,968,566. The PNC Financial Services Group has a twelve month low of $143.52 and a twelve month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $59.98 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.55 and a beta of 1.04. The business's 50 day moving average price is $178.30 and its 200 day moving average price is $190.17.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.16 EPS. As a group, sell-side analysts expect that The PNC Financial Services Group will post 15.37 earnings per share for the current fiscal year.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 601 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total value of $96,160.00. Following the completion of the transaction, the chief executive officer now directly owns 563,573 shares of the company's stock, valued at $90,171,680. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 12,420 shares of company stock valued at $2,276,870 in the last ninety days. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors have recently bought and sold shares of PNC. Principal Financial Group Inc. increased its holdings in The PNC Financial Services Group by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider's stock valued at $420,621,000 after acquiring an additional 22,271 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $481,000. Quarry LP lifted its stake in The PNC Financial Services Group by 43.8% in the 3rd quarter. Quarry LP now owns 417 shares of the financial services provider's stock valued at $77,000 after buying an additional 127 shares in the last quarter. EP Wealth Advisors LLC grew its holdings in The PNC Financial Services Group by 37.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 5,119 shares of the financial services provider's stock valued at $946,000 after buying an additional 1,394 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its position in The PNC Financial Services Group by 484.0% during the third quarter. iA Global Asset Management Inc. now owns 13,830 shares of the financial services provider's stock worth $2,556,000 after buying an additional 11,462 shares in the last quarter. 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.