The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares

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, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the sale, the chief executive officer now owns 549,733 shares in the company, valued at approximately $101,007,941.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $1.77 during trading on Monday, hitting $184.84. 1,493,264 shares of the company were exchanged, compared to its average volume of 1,873,056. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. The stock has a market capitalization of $73.47 billion, a price-to-earnings ratio of 15.46, a P/E/G ratio of 2.02 and a beta of 1.14. The firm has a 50 day moving average price of $177.92 and a 200 day moving average price of $164.18.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the firm posted $3.36 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.14 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.46%. The PNC Financial Services Group’s payout ratio is 53.74%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Royal Bank of Canada lifted their target price on 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. Jefferies Financial Group raised their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. UBS Group raised their price target on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $176.90.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC raised its holdings in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. Bank & Trust Co acquired a new position in The PNC Financial Services Group in the 2nd quarter valued at $26,000. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at $28,000. Palisade Asset Management LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at $29,000. Finally, Fortis Group Advisors LLC raised its holdings in The PNC Financial Services Group by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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.