The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $239,556.96 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, January 10th. The stock was sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the transaction, the chief executive officer now directly owns 526,313 shares of the company’s stock, valued at approximately $101,515,251.44. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

The PNC Financial Services Group Stock Up 1.8 %

Shares of NYSE:PNC opened at $195.81 on Wednesday. The stock has a market cap of $77.69 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 2.11 and a beta of 1.16. The business’s 50 day moving average is $201.75 and its 200 day moving average is $186.58. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.60 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 54.10%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Compass Point raised their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Stephens boosted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Barclays increased their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Evercore ISI lifted their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus price target of $203.29.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Valley Wealth Managers Inc. boosted its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Quarry LP grew its stake in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter valued at $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of The PNC Financial Services Group by 231.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.