Morgan Stanley Boosts The PNC Financial Services Group (NYSE:PNC) Price Target to $180.00

The PNC Financial Services Group (NYSE:PNC) had its price target boosted by equities researchers at Morgan Stanley from $177.00 to $180.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective points to a potential downside of 4.66% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Citigroup lifted their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Jefferies Financial Group lifted their price target on shares of 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. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $185.71.

The PNC Financial Services Group Trading Down 0.6 %

NYSE:PNC opened at $188.80 on Wednesday. The company has a 50-day moving average price of $180.44 and a 200-day moving average price of $166.93. The PNC Financial Services Group has a 12 month low of $109.40 and a 12 month high of $196.64. 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 cap of $75.12 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the company posted $3.60 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts predict that The PNC Financial Services Group will post 13.18 EPS for the current year.

Insider Transactions at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred 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 completion of the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred 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 completion of the sale, the president now directly owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $185.00, for a total transaction of $229,770.00. Following the completion of the sale, the chief executive officer now owns 547,249 shares of the company’s stock, valued at $101,241,065. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,420 shares of company stock worth $4,223,131 over the last three months. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

Large investors have recently made changes to their positions in the stock. Jennison Associates LLC grew its position in The PNC Financial Services Group by 38.4% during the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock valued at $169,891,000 after buying an additional 291,769 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in The PNC Financial Services Group by 152.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock valued at $71,163,000 after buying an additional 276,200 shares during the period. Hsbc Holdings PLC grew its position in The PNC Financial Services Group by 24.1% during the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after buying an additional 262,654 shares during the period. Marshall Wace LLP grew its position in The PNC Financial Services Group by 5,419.9% during the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after buying an additional 254,356 shares during the period. Finally, Legal & General Group Plc grew its position in The PNC Financial Services Group by 6.8% during the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after buying an additional 223,955 shares during the period. 83.53% of the stock is currently owned by institutional investors.

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.