The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $235,098.18 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the sale, the chief executive officer now owns 530,039 shares in the company, valued at $100,331,082.31. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $193.28 on Friday. The firm’s 50 day moving average is $200.36 and its two-hundred day moving average is $182.94. The firm has a market capitalization of $76.69 billion, a P/E ratio of 16.34, a PEG ratio of 2.11 and a beta of 1.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26.

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, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the firm earned $3.60 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.31%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PNC. Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company upped their target price 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, November 15th. The Goldman Sachs Group lifted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Stephens upped their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Compass Point boosted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $200.81.

Hedge Funds Weigh In On The PNC Financial Services Group

Several large investors have recently bought and sold shares of the stock. Fidelity D & D Bancorp Inc. increased its stake in shares of The PNC Financial Services Group by 1.4% during the third quarter. Fidelity D & D Bancorp Inc. now owns 9,708 shares of the financial services provider’s stock valued at $1,795,000 after acquiring an additional 138 shares during the period. Franklin Resources Inc. increased its position in shares of The PNC Financial Services Group by 1.2% during the 3rd quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock valued at $1,939,154,000 after purchasing an additional 123,994 shares during the period. Synovus Financial Corp raised its stake in shares of The PNC Financial Services Group by 3.7% in the 3rd quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock worth $2,631,000 after buying an additional 509 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of The PNC Financial Services Group by 86.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider’s stock valued at $6,367,000 after buying an additional 15,962 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in The PNC Financial Services Group by 3.8% during the third quarter. Sanctuary Advisors LLC now owns 97,908 shares of the financial services provider’s stock valued at $18,098,000 after buying an additional 3,595 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.