William S. Demchak Sells 1,242 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the transaction, the chief executive officer now owns 550,975 shares of the company’s stock, valued at $102,729,288.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

The PNC Financial Services Group Stock Down 0.3 %

PNC stock opened at $184.62 on Wednesday. The firm has a market cap of $73.46 billion, a PE ratio of 15.50, a P/E/G ratio of 2.00 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $187.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $177.58 and a 200 day simple moving average of $163.53.

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

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend. 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 3.47%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Institutional Trading of The PNC Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of PNC. Gilbert & Cook Inc. boosted its stake in The PNC Financial Services Group by 3.7% in the 4th 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 period. Gryphon Financial Partners LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $228,000. CreativeOne Wealth LLC purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $235,000. Commerce Bank raised its position in The PNC Financial Services Group by 1.2% during the fourth quarter. Commerce Bank now owns 20,106 shares of the financial services provider’s stock valued at $3,113,000 after buying an additional 241 shares during the period. Finally, Hoylecohen LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth about $221,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. Compass Point lowered shares of 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 target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Barclays increased their price target on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. 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 company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus target price of $176.90.

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.