The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 641 Shares of 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 directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $151.94 on Wednesday. The company has a market cap of $60.46 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 2.21 and a beta of 1.16. The business’s fifty day simple moving average is $154.95 and its two-hundred day simple moving average is $152.74. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results 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 return on equity of 11.64% and a net margin of 16.05%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the company posted $3.98 earnings per share. The company’s quarterly revenue was down 8.2% on a year-over-year basis. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.63 earnings per share 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 paid a $1.55 dividend. The ex-dividend date was Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.08%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Capital International Investors grew its position in The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after purchasing an additional 78,407 shares during the period. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth $1,039,481,000. Franklin Resources Inc. boosted its stake in shares of The PNC Financial Services Group by 165.4% in the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after buying an additional 3,046,226 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of The PNC Financial Services Group by 19.5% in the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after acquiring an additional 778,264 shares during the period. Finally, Morgan Stanley increased its position in The PNC Financial Services Group by 1.0% during the third quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock valued at $473,767,000 after acquiring an additional 36,362 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on PNC shares. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Keefe, Bruyette & Woods restated 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. JPMorgan Chase & Co. decreased their price objective on 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. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $158.43.

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.