The PNC Financial Services Group (NYSE:PNC) Sets New 12-Month High at $186.64

The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $186.64 and last traded at $184.71, with a volume of 134611 shares. The stock had previously closed at $182.57.

Analysts Set New Price Targets

A number of analysts have issued reports on PNC shares. Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an "underperform" rating in a research note on Wednesday, July 17th. UBS Group upped their price objective on shares of 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. Royal Bank of Canada raised their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an "outperform" rating in a report on Wednesday, July 17th. Bank of America upgraded The PNC Financial Services Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Finally, StockNews.com raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $176.90.

The PNC Financial Services Group Trading Up 2.5 %

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 market capitalization of $74.47 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.97 and a beta of 1.14. The business's fifty day simple moving average is $176.75 and its two-hundred day simple moving average is $162.68.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its 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 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 firm's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $3.36 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.42%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.55. The PNC Financial Services Group's payout ratio is currently 53.74%.

Insider Activity

In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group 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 sale, the chief executive officer now directly owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total transaction of $208,035.00. Following the completion of the transaction, the chief executive officer now directly owns 563,395 shares of the company's stock, valued at approximately $94,368,662.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 641 shares of the company's stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,263 shares of company stock worth $4,418,109. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gilbert & Cook Inc. grew its holdings in shares of The PNC Financial Services Group by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider's stock worth $462,000 after purchasing an additional 107 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at about $228,000. ING Groep NV raised its stake in shares of The PNC Financial Services Group by 13.1% in the fourth quarter. ING Groep NV now owns 1,679 shares of the financial services provider's stock worth $260,000 after acquiring an additional 194 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of The PNC Financial Services Group by 15.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 6,013 shares of the financial services provider's stock worth $931,000 after purchasing an additional 790 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of The PNC Financial Services Group by 5.8% during the fourth quarter. Corient Private Wealth LLC now owns 428,753 shares of the financial services provider's stock worth $66,393,000 after purchasing an additional 23,583 shares in the last quarter. 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 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.