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 company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $176.67, for a total value of $219,424.14. Following the sale, the chief executive officer now owns 562,153 shares in the company, valued at approximately $99,315,570.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $1.64 during trading hours on Monday, reaching $177.15. 1,435,146 shares of the stock were exchanged, compared to its average volume of 1,923,820. The firm has a market capitalization of $70.49 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 2.27 and a beta of 1.15. The stock’s fifty day simple moving average is $158.03 and its 200 day simple moving average is $154.26. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.85 and a current ratio of 0.83. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $180.97.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data 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 firm had revenue of $5.41 billion for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.36 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc. will post 12.95 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PNC shares. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Bank of America upped their price target on shares of The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Jefferies Financial Group lifted their price objective 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. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Royal Bank of Canada lifted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $175.34.

Institutional Trading of The PNC Financial Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNC. Nordea Investment Management AB grew its position in The PNC Financial Services Group by 2.6% during the fourth quarter. Nordea Investment Management AB now owns 28,055 shares of the financial services provider’s stock worth $4,360,000 after buying an additional 719 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $28,000. Premier Path Wealth Partners LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $483,000. Compagnie Lombard Odier SCmA bought a new position in The PNC Financial Services Group during the 4th quarter worth approximately $2,478,000. Finally, Cooper Financial Group raised its stake in The PNC Financial Services Group by 2.1% during the fourth quarter. Cooper Financial Group now owns 4,171 shares of the financial services provider’s stock worth $646,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.