William S. Demchak Sells 641 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $151.74 on Thursday. The firm has a market cap of $60.38 billion, a P/E ratio of 12.74, a PEG ratio of 2.17 and a beta of 1.16. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average of $154.95 and a 200 day moving average of $152.74.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 earnings per share. As a group, research analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s payout ratio is presently 52.06%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PNC. Bank of America raised their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. Finally, Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $158.43.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $26,000. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter worth $28,000. Palisade Asset Management LLC purchased a new stake in The PNC Financial Services Group during the first quarter valued at $29,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its holdings in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.