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 PNC Financial Services Group stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the transaction, the chief executive officer now owns 567,682 shares of the company’s stock, valued at $86,900,760.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Trading Up 1.7 %

Shares of PNC stock opened at $158.81 on Wednesday. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $162.24. The firm has a fifty day moving average price of $155.19 and a 200-day moving average price of $152.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $63.19 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 2.22 and a beta of 1.15.

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

Analysts Set New Price Targets

PNC has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Jefferies Financial Group decreased their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and boosted their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $158.43.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds have recently modified their holdings of the business. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $26,000. Tennessee Valley Asset Management Partners bought a new position in The PNC Financial Services Group in the 4th quarter worth $26,000. Fortitude Family Office LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the period. Finally, LRI Investments LLC bought a new position in The PNC Financial Services Group in the 1st quarter worth $28,000. Institutional investors 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.