The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $229,770.00 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.00, for a total transaction of $229,770.00. Following the completion of the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at $101,241,065. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

The PNC Financial Services Group Stock Down 0.6 %

PNC opened at $188.80 on Friday. The stock’s 50 day moving average price is $180.44 and its 200 day moving average price is $166.93. 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 stock has a market cap of $75.12 billion, a P/E ratio of 15.85, a P/E/G ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly 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 company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 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 3.8% compared to the same quarter last year. During the same period last year, the company earned $3.60 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PNC shares. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup lifted their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday. Stephens lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PNC. Bank & Trust Co acquired a new stake in The PNC Financial Services Group in the second quarter worth approximately $26,000. ORG Partners LLC increased its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at $29,000. Finally, Y.D. More Investments Ltd bought a new position in The PNC Financial Services Group during the second quarter valued at about $33,000. 83.53% of the stock is currently owned by institutional investors.

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.