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 PNC Financial Services Group stock in a transaction on Friday, December 27th. The stock was sold at an average price of $193.62, for a total transaction of $240,476.04. Following the completion of the transaction, the chief executive officer now directly owns 528,797 shares of the company’s stock, valued at $102,385,675.14. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $192.53 on Tuesday. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a market capitalization of $76.39 billion, a PE ratio of 16.27, a P/E/G ratio of 2.11 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50-day simple moving average of $200.50 and a two-hundred day simple moving average of $183.45.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the prior year, the company posted $3.60 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% compared to the same quarter last year. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.32%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. increased its holdings in shares of The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in The PNC Financial Services Group during the 2nd quarter valued at approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of The PNC Financial Services Group in the third quarter worth $51,000. Quarry LP lifted its stake in shares of The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Evercore ISI boosted 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. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Barclays increased their price target on The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $200.81.

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.