The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares

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, October 25th. The shares were sold at an average price of $190.27, for a total value of $236,315.34. Following the completion of the sale, the chief executive officer now owns 544,765 shares of the company’s stock, valued at $103,652,436.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $4.01 on Monday, reaching $189.83. The company had a trading volume of 1,188,869 shares, compared to its average volume of 1,860,136. The stock has a market capitalization of $75.53 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. 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 business’s 50-day moving average is $182.56 and its 200 day moving average is $168.28. The PNC Financial Services Group, Inc. has a one year low of $111.08 and a one year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates 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 company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.60 earnings per share. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be issued a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.37%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on shares of 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. Citigroup raised their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. UBS Group lifted their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays increased their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two investment 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $185.71.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently made changes to their positions in PNC. Bank & Trust Co acquired a new stake in The PNC Financial Services Group in the second quarter valued at $26,000. ORG Partners LLC lifted its position in shares of The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at $28,000. Palisade Asset Management LLC bought a new position in The PNC Financial Services Group during the first quarter worth $29,000. Finally, Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group during the second quarter worth $33,000. 83.53% of the stock is owned by institutional investors and hedge funds.

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.