William S. Demchak Sells 1,242 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) 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, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the transaction, the chief executive officer now directly owns 527,555 shares in the company, valued at approximately $101,369,693.25. This represents a 0.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

The PNC Financial Services Group Stock Down 0.4 %

PNC stock opened at $194.90 on Wednesday. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The firm has a market capitalization of $77.33 billion, a PE ratio of 16.48, a PEG ratio of 2.11 and a beta of 1.16. 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 stock has a 50-day simple moving average of $201.22 and a two-hundred day simple moving average of $185.16.

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, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the company earned $3.60 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds have recently bought and sold shares of the company. TD Asset Management Inc increased its holdings in The PNC Financial Services Group by 4.4% during the 2nd quarter. TD Asset Management Inc now owns 183,037 shares of the financial services provider’s stock valued at $28,459,000 after purchasing an additional 7,781 shares during the period. New York Life Investment Management LLC raised its holdings in shares of The PNC Financial Services Group by 1.0% during the second quarter. New York Life Investment Management LLC now owns 60,653 shares of the financial services provider’s stock valued at $9,430,000 after acquiring an additional 573 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of The PNC Financial Services Group by 8.0% during the second quarter. Private Advisor Group LLC now owns 66,281 shares of the financial services provider’s stock valued at $10,305,000 after acquiring an additional 4,912 shares in the last quarter. Savant Capital LLC boosted its holdings in The PNC Financial Services Group by 0.7% in the second quarter. Savant Capital LLC now owns 12,032 shares of the financial services provider’s stock valued at $1,871,000 after acquiring an additional 79 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its position in The PNC Financial Services Group by 1.8% during the 2nd quarter. Lake Street Advisors Group LLC now owns 11,325 shares of the financial services provider’s stock valued at $1,761,000 after purchasing an additional 199 shares during the period. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PNC. Stephens upped their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $203.29.

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.