The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $236,687.94 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $190.57, for a total value of $236,687.94. Following the completion of the transaction, the chief executive officer now owns 546,007 shares in the company, valued at approximately $104,052,553.99. 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 is available at this link.

The PNC Financial Services Group Stock Performance

PNC stock traded down $3.25 during trading on Monday, reaching $186.13. 413,766 shares of the company’s stock were exchanged, compared to its average volume of 1,862,190. The company’s fifty day moving average price is $180.83 and its 200-day moving average price is $167.27. The firm has a market cap of $74.06 billion, a PE ratio of 15.90, a P/E/G ratio of 2.06 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company 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 15.53% and a return on equity of 11.33%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.60 earnings per share. On average, research analysts expect 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be issued 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 3.44%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently bought and sold shares of the business. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group in the second quarter worth approximately $26,000. ORG Partners LLC lifted its position in 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 buying an additional 110 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at $28,000. Palisade Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the 1st quarter valued at $29,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of The PNC Financial Services Group in the second quarter worth $33,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the subject of several recent research reports. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. UBS Group lifted their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Citigroup lifted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Evercore ISI raised 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 note on Wednesday, October 16th. Finally, Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a 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 MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average price target of $185.71.

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.