The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $245,916.00 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, January 17th. The shares were sold at an average price of $198.00, for a total transaction of $245,916.00. Following the sale, the chief executive officer now owns 525,071 shares of the company’s stock, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

The PNC Financial Services Group Trading Down 1.0 %

PNC stock traded down $1.95 during trading on Wednesday, reaching $196.61. The company had a trading volume of 1,181,118 shares, compared to its average volume of 2,553,928. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26. The business has a 50 day moving average of $200.92 and a 200 day moving average of $188.02. The company has a market cap of $78.01 billion, a P/E ratio of 14.31, a PEG ratio of 1.62 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.16 earnings per share. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.2 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.26%. The PNC Financial Services Group’s payout ratio is 46.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in shares of The PNC Financial Services Group by 7.8% during the 4th quarter. Pacer Advisors Inc. now owns 31,762 shares of the financial services provider’s stock valued at $6,125,000 after acquiring an additional 2,296 shares during the last quarter. KBC Group NV lifted its position in shares of The PNC Financial Services Group by 214.4% during the 4th quarter. KBC Group NV now owns 271,588 shares of the financial services provider’s stock valued at $52,375,000 after buying an additional 185,210 shares in the last quarter. Capital Asset Advisory Services LLC lifted its position in shares of The PNC Financial Services Group by 1.5% in the fourth quarter. Capital Asset Advisory Services LLC now owns 14,791 shares of the financial services provider’s stock valued at $2,894,000 after acquiring an additional 213 shares in the last quarter. Blue Trust Inc. grew its position in shares of The PNC Financial Services Group by 44.1% during the fourth quarter. Blue Trust Inc. now owns 6,209 shares of the financial services provider’s stock valued at $1,148,000 after purchasing an additional 1,901 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 53 shares during the period. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research analyst reports. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Evercore ISI boosted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Compass Point upped their price objective 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. Finally, Barclays raised their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $205.00.

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.