The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 2,404 Shares

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

The PNC Financial Services Group Stock Performance

NYSE PNC traded up $4.05 on Thursday, hitting $168.35. 2,427,387 shares of the company traded hands, compared to its average volume of 1,880,146. The business’s 50 day moving average price is $155.67 and its 200-day moving average price is $153.32. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $169.11. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $66.99 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 2.26 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.98 EPS. Equities analysts expect that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be paid a $1.60 dividend. The ex-dividend date of this dividend is 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 dividend yield of 3.80%. The PNC Financial Services Group’s dividend payout ratio is 52.06%.

Institutional Trading of The PNC Financial Services Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Steph & Co. grew its position in shares of The PNC Financial Services Group by 1.8% in the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after buying an additional 67 shares during the last quarter. Bangor Savings Bank grew its holdings in The PNC Financial Services Group by 1.2% in the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after purchasing an additional 69 shares during the last quarter. Triangle Securities Wealth Management increased its position in shares of The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares in the last quarter. Cooper Financial Group lifted its holdings in shares of The PNC Financial Services Group by 1.7% during the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 70 shares during the last quarter. Finally, Berkshire Bank boosted its position in shares of The PNC Financial Services Group by 2.0% in the 1st quarter. Berkshire Bank now owns 3,562 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 71 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on PNC. Wells Fargo & Company increased 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. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, UBS Group upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $165.00 to $179.00 in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.