The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $183.74, for a total value of $228,205.08. Following the completion of the transaction, the chief executive officer now directly owns 549,733 shares of the company’s stock, valued at approximately $101,007,941.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

The PNC Financial Services Group Trading Up 1.0 %

Shares of PNC traded up $1.77 during midday trading on Monday, hitting $184.84. 1,493,264 shares of the stock were exchanged, compared to its average volume of 1,873,056. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $187.78. The stock has a fifty day simple moving average of $177.92 and a 200 day simple moving average of $164.18. The firm has a market cap of $73.47 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping the consensus estimate of $3.00 by $0.30. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the business posted $3.36 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were paid a $1.60 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. This represents a $6.40 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 53.74%.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently modified their holdings of PNC. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at $26,000. ORG Partners LLC raised its stake in 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 valued at $26,000 after buying an additional 110 shares in the last quarter. LRI Investments LLC acquired a new stake in The PNC Financial Services Group in the first quarter valued at $28,000. Palisade Asset Management LLC acquired a new stake in The PNC Financial Services Group in the first quarter valued at $29,000. Finally, Core Wealth Advisors Inc. acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at $31,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on PNC. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Evercore ISI increased their target price on The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Jefferies Financial Group upped their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.