The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $229,770.00 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the firm’s 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Trading Up 2.1 %

NYSE:PNC opened at $192.48 on Wednesday. The PNC Financial Services Group, Inc. 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’s 50 day simple moving average is $179.61 and its 200-day simple moving average is $166.61. The firm has a market cap of $76.59 billion, a P/E ratio of 16.16, a PEG ratio of 2.01 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company posted $3.36 EPS. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. Equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.33%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds have recently added to or reduced their stakes in the company. BSN CAPITAL PARTNERS Ltd acquired a new stake in shares of The PNC Financial Services Group in the 3rd quarter valued at approximately $12,548,000. Integrated Advisors Network LLC boosted its position in shares of The PNC Financial Services Group by 7.3% during the 4th quarter. Integrated Advisors Network LLC now owns 2,182 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 148 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $822,000. Equity Investment Corp increased its holdings in shares of The PNC Financial Services Group by 3.4% in the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock valued at $110,297,000 after purchasing an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP boosted its holdings in The PNC Financial Services Group by 108.5% during the first quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock worth $3,336,000 after buying an additional 10,743 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Jefferies Financial Group raised their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Royal Bank of Canada lifted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group decreased 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 report 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 given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $177.65.

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.