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 firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded down $1.27 during trading hours on Monday, reaching $185.09. 1,545,477 shares of the company traded hands, compared to its average volume of 1,888,891. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $187.78. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market cap of $73.65 billion, a P/E ratio of 15.54, a P/E/G ratio of 2.00 and a beta of 1.14. The firm has a 50-day moving average price of $177.11 and a 200 day moving average price of $163.04.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the firm earned $3.36 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc. will post 13.1 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. Investors 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 a boost 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 payout ratio is currently 53.74%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PNC. Bank & Trust Co purchased a new position in The PNC Financial Services Group in the 2nd quarter worth approximately $26,000. ORG Partners LLC increased its holdings in shares of The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Palisade Asset Management LLC bought a new position in The PNC Financial Services Group during the first quarter valued at approximately $29,000. Finally, Core Wealth Advisors Inc. purchased a new position in The PNC Financial Services Group during the 4th quarter valued at approximately $31,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNC has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group reduced their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. UBS Group increased their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $176.90.

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.