The Goldman Sachs Group Issues Positive Forecast for The PNC Financial Services Group (NYSE:PNC) Stock Price

The PNC Financial Services Group (NYSE:PNC - Get Free Report) had its price objective lifted by The Goldman Sachs Group from $178.00 to $196.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. The Goldman Sachs Group's price objective indicates a potential upside of 0.46% from the company's previous close.

Several other research analysts have also weighed in on PNC. Keefe, Bruyette & Woods dropped their target price on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley decreased their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their target price on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.35.

The PNC Financial Services Group Stock Down 0.3%

PNC traded down $0.61 on Wednesday, reaching $195.10. 1,863,484 shares of the company traded hands, compared to its average volume of 2,109,370. The company has a market cap of $77.18 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.66 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The stock's 50 day moving average price is $175.83 and its 200-day moving average price is $180.07. The PNC Financial Services Group has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The business had revenue of $5.45 billion for the quarter, compared to analysts' expectations of $5.50 billion. On average, sell-side analysts expect that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $179.14, for a total value of $222,491.88. Following the completion of the transaction, the chief executive officer owned 556,121 shares in the company, valued at approximately $99,623,515.94. This represents a 0.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were acquired at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares in the company, valued at $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 10,787 shares of company stock valued at $1,782,794 in the last quarter. Corporate insiders own 0.41% of the company's stock.

Institutional Trading of The PNC Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in shares of The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after buying an additional 984 shares in the last quarter. Fisher Asset Management LLC grew its position in The PNC Financial Services Group by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 3,737 shares of the financial services provider's stock valued at $721,000 after acquiring an additional 143 shares during the period. Jones Financial Companies Lllp raised its stake in The PNC Financial Services Group by 30.5% during the fourth quarter. Jones Financial Companies Lllp now owns 27,887 shares of the financial services provider's stock worth $5,378,000 after acquiring an additional 6,514 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $191,000. Finally, Meridian Wealth Management LLC lifted its holdings in shares of The PNC Financial Services Group by 1.5% during the fourth quarter. Meridian Wealth Management LLC now owns 5,885 shares of the financial services provider's stock valued at $1,135,000 after acquiring an additional 89 shares during the period. Institutional investors own 83.53% of the company's stock.

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.