Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 1,242 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now owns 550,975 shares in the company, valued at approximately $102,729,288.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Trading Down 0.7 %

Shares of NYSE PNC traded down $1.27 during mid-day trading on Monday, reaching $185.09. The company had a trading volume of 1,545,477 shares, compared to its average volume of 1,888,891. The business’s 50-day moving average is $177.11 and its 200-day moving average is $163.04. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The stock has a market cap of $73.65 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 2.00 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results 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 firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $3.36 earnings per share. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were paid a $1.60 dividend. The ex-dividend date was Monday, July 15th. This is a positive change 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 3.46%. The PNC Financial Services Group’s dividend payout ratio is 53.74%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PNC shares. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Barclays boosted their price target on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Royal Bank of Canada boosted their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, The Goldman Sachs Group cut their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $176.90.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in The PNC Financial Services Group by 152.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after acquiring an additional 276,200 shares during the period. Heritage Wealth Management Inc. purchased a new stake in The PNC Financial Services Group in the second quarter worth about $1,166,000. Sanctuary Advisors LLC purchased a new stake in The PNC Financial Services Group in the second quarter worth about $14,723,000. Souders Financial Advisors lifted its stake in The PNC Financial Services Group by 2.3% in the second quarter. Souders Financial Advisors now owns 22,408 shares of the financial services provider’s stock worth $3,484,000 after acquiring an additional 496 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group in the second quarter worth about $278,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.