Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $384,640.00 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares of the company’s stock, valued at $90,341,920. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $168.30 on Friday. The company has a market cap of $66.97 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15. The firm has a 50-day moving average of $155.92 and a 200-day moving average of $153.43. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $169.11. 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 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 for the quarter, topping 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 quarter in the previous year, the business earned $3.98 earnings per share. The business’s revenue was down 8.2% compared to the same quarter last year. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.67 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.80%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Monday, July 15th. The PNC Financial Services Group’s payout ratio is 52.06%.

Hedge Funds Weigh In On The PNC Financial Services Group

Several large investors have recently modified their holdings of the stock. Rockline Wealth Management LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $1,825,000. V Square Quantitative Management LLC lifted its holdings in The PNC Financial Services Group by 23.3% during the 1st quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock worth $1,371,000 after purchasing an additional 1,604 shares during the last quarter. Trust Point Inc. bought a new stake in The PNC Financial Services Group in the 4th quarter valued at $459,000. McGlone Suttner Wealth Management Inc. acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $295,000. Finally, Vaughan David Investments LLC IL increased its position in The PNC Financial Services Group by 5.7% during the 4th quarter. Vaughan David Investments LLC IL now owns 251,447 shares of the financial services provider’s stock worth $38,937,000 after buying an additional 13,648 shares during the period. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. UBS Group raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $165.00 to $179.00 in a research report on Monday. Finally, Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $159.63.

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.