The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $213,375.60 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 on Friday, August 16th. The stock was sold at an average price of $171.80, for a total value of $213,375.60. Following the completion of the sale, the chief executive officer now owns 557,185 shares of the company’s stock, valued at $95,724,383. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

The PNC Financial Services Group Stock Down 0.1 %

Shares of NYSE:PNC traded down $0.23 during trading hours on Tuesday, hitting $174.27. The company’s stock had a trading volume of 662,662 shares, compared to its average volume of 1,909,133. The firm’s fifty day moving average price is $165.50 and its 200 day moving average price is $157.58. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $182.84. The company has a market capitalization of $69.27 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 2.14 and a beta of 1.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82.

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, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the firm posted $3.36 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 13.13 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 dividend on an annualized basis and a yield of 3.67%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors have recently modified their holdings of PNC. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group during the second quarter worth $26,000. ORG Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $28,000. Finally, Palisade Asset Management LLC purchased a new position in The PNC Financial Services Group during the 1st quarter worth $29,000. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of 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. UBS Group raised their price objective 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. Jefferies Financial Group upped their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley upped their price objective on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.02.

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.