The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $215,884.44 in 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 that occurred on Friday, August 2nd. The shares were sold at an average price of $173.82, for a total transaction of $215,884.44. Following the transaction, the chief executive officer now directly owns 559,669 shares in the company, valued at approximately $97,281,665.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

The PNC Financial Services Group Stock Up 2.1 %

Shares of NYSE:PNC opened at $170.23 on Friday. The company has a market cap of $67.74 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.26 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $182.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $163.33 and a 200 day moving average price of $156.53.

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 (EPS) for the quarter, beating 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 revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company earned $3.36 EPS. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.02 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.76%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PNC. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Evercore ISI upped their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Bank of America upped their price target on The PNC Financial Services Group from $169.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 17th. Finally, Jefferies Financial Group lifted their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average target price of $176.09.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ORG Partners LLC grew its holdings in 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 last quarter. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $26,000. Bank & Trust Co bought a new position in shares of The PNC Financial Services Group during the second quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter worth approximately $28,000. Finally, Palisade Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.