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 business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the sale, the chief executive officer now owns 536,249 shares of the company’s stock, valued at $111,604,141.88. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $0.25 during midday trading on Monday, hitting $207.43. The company’s stock had a trading volume of 867,947 shares, compared to its average volume of 1,870,142. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $188.25 and its 200-day moving average price is $173.07. The PNC Financial Services Group, Inc. has a 12 month low of $127.08 and a 12 month high of $214.19. The company has a market capitalization of $82.30 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly 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 firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.60 earnings per share. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.09%. The PNC Financial Services Group’s payout ratio is presently 54.10%.

Institutional Trading of The PNC Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of PNC. Bank & Trust Co bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at approximately $26,000. ORG Partners LLC raised its stake in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group during the first quarter worth $28,000. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the second quarter worth $33,000. Finally, Valley Wealth Managers Inc. raised its stake in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company increased their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Stephens upped their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $186.96.

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.