The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $224,156.16 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 on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the completion of the transaction, the chief executive officer now directly owns 560,911 shares in the company, valued at $101,233,217.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $0.21 during trading hours on Monday, reaching $181.00. The stock had a trading volume of 1,735,278 shares, compared to its average volume of 1,922,858. The stock’s 50 day moving average is $159.91 and its 200 day moving average is $155.09. The firm has a market capitalization of $72.02 billion, a PE ratio of 15.24, a PEG ratio of 2.33 and a beta of 1.15. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $182.51. 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 PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.36 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.54%. The ex-dividend date is Monday, July 15th. 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 is currently 53.74%.

Analysts Set New Price Targets

Several research firms have issued reports on PNC. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 17th. UBS Group lifted their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Bank of America lifted their price objective on shares of The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Barclays lifted their price objective on shares of 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, Morgan Stanley lowered their price objective on shares of The PNC Financial Services Group from $167.00 to $165.00 and set an “underweight” rating for the company in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $175.34.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently bought and sold shares of PNC. Pallas Capital Advisors LLC boosted its holdings in The PNC Financial Services Group by 5.6% in the 4th quarter. Pallas Capital Advisors LLC now owns 20,955 shares of the financial services provider’s stock valued at $3,245,000 after purchasing an additional 1,103 shares during the last quarter. Bridge Creek Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 0.3% in the fourth quarter. Bridge Creek Capital Management LLC now owns 30,830 shares of the financial services provider’s stock valued at $4,774,000 after acquiring an additional 87 shares in the last quarter. JB Capital LLC increased its holdings in The PNC Financial Services Group by 16.6% in the fourth quarter. JB Capital LLC now owns 73,114 shares of the financial services provider’s stock valued at $11,322,000 after buying an additional 10,394 shares during the last quarter. apricus wealth LLC increased its holdings in The PNC Financial Services Group by 4.9% in the fourth quarter. apricus wealth LLC now owns 15,780 shares of the financial services provider’s stock valued at $2,444,000 after buying an additional 730 shares during the last quarter. Finally, Essex Savings Bank increased its holdings in The PNC Financial Services Group by 14.5% in the fourth quarter. Essex Savings Bank now owns 3,358 shares of the financial services provider’s stock valued at $520,000 after buying an additional 425 shares during the last quarter. Hedge funds and other 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.