The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $229,770.00 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, October 11th. The stock was sold at an average price of $185.00, for a total transaction of $229,770.00. Following the transaction, the chief executive officer now directly owns 547,249 shares in the company, valued at $101,241,065. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

The PNC Financial Services Group Stock Performance

NYSE PNC traded up $3.82 on Tuesday, hitting $192.34. 2,967,902 shares of the stock traded hands, compared to its average volume of 1,859,249. The business’s fifty day moving average is $179.14 and its two-hundred day moving average is $166.39. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64. The firm has a market capitalization of $76.53 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter last year, the business posted $3.36 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.33%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Valley Brook Capital Group Inc. boosted its stake in shares of The PNC Financial Services Group by 0.6% during the second quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 62 shares in the last quarter. Kowal Investment Group LLC boosted its stake in shares of The PNC Financial Services Group by 2.6% during the second quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 68 shares in the last quarter. Ranch Capital Advisors Inc. boosted its stake in shares of The PNC Financial Services Group by 1.0% during the second quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock valued at $1,110,000 after purchasing an additional 69 shares in the last quarter. Triangle Securities Wealth Management boosted its stake in shares of The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after purchasing an additional 70 shares in the last quarter. Finally, Cooper Financial Group lifted its position in The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 70 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on PNC. 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 on the stock in a report on Wednesday, September 11th. Jefferies Financial Group upped their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Citigroup increased their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, UBS Group raised their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $177.65.

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.