The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $258,485.04 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 dated Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the transaction, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at $111,604,141.88. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $203.95 on Thursday. The PNC Financial Services Group, Inc. has a twelve month low of $127.08 and a twelve month high of $214.19. 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 firm has a 50-day moving average of $189.79 and a two-hundred day moving average of $173.99. The company has a market capitalization of $80.92 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released 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 business had revenue of $5.43 billion during 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 business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.60 earnings per share. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth about $292,000. UniSuper Management Pty Ltd increased its position in shares of The PNC Financial Services Group by 1,142.6% in the first quarter. UniSuper Management Pty Ltd now owns 5,865 shares of the financial services provider’s stock worth $948,000 after acquiring an additional 5,393 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $4,299,000. Bessemer Group Inc. lifted its position in shares of The PNC Financial Services Group by 35.0% in the 1st quarter. Bessemer Group Inc. now owns 65,541 shares of the financial services provider’s stock valued at $10,591,000 after acquiring an additional 17,008 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in The PNC Financial Services Group by 11.6% in the 1st quarter. Lake Street Advisors Group LLC now owns 11,126 shares of the financial services provider’s stock worth $1,798,000 after purchasing an additional 1,159 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PNC shares. Morgan Stanley lifted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Stephens raised their target price 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. The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $186.96.

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.