Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $211,276.62 in 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 on Friday, August 9th. The shares were sold at an average price of $170.11, for a total transaction of $211,276.62. Following the completion of the sale, the chief executive officer now owns 558,427 shares in the company, valued at approximately $94,994,016.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $171.88 on Friday. The stock has a market capitalization of $68.32 billion, a P/E ratio of 14.43, a P/E/G ratio of 2.16 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $182.84. 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 business has a 50-day moving average price of $164.72 and a two-hundred day moving average price of $157.17.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results 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 analysts’ expectations 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 PNC Financial Services Group’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.36 EPS. Equities analysts predict that The PNC Financial Services Group, Inc. will post 13.13 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.72%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital International Investors increased its stake in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after acquiring an additional 78,407 shares during the last quarter. Norges Bank bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $1,039,481,000. Franklin Resources Inc. grew its position in shares of The PNC Financial Services Group by 165.4% in the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after purchasing an additional 3,046,226 shares during the period. Ameriprise Financial Inc. grew its position in shares of The PNC Financial Services Group by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock valued at $746,772,000 after purchasing an additional 18,397 shares during the period. Finally, Capital Research Global Investors grew its position in shares of The PNC Financial Services Group by 19.5% in the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock valued at $738,039,000 after purchasing an additional 778,264 shares during the period. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their target price on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Barclays lifted their price target on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $185.00 to $200.00 in a report on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $177.02.

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.