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 business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $176.15, for a total transaction of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded up $0.45 on Tuesday, reaching $178.56. The stock had a trading volume of 653,303 shares, compared to its average volume of 1,892,022. The business’s 50-day moving average price is $167.89 and its two-hundred day moving average price is $158.55. 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, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $182.84. The stock has a market cap of $71.05 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.92 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the company earned $3.36 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm 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. The ex-dividend date was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.58%. The PNC Financial Services Group’s dividend payout ratio is currently 53.74%.

Institutional Investors Weigh In On The PNC Financial Services Group

Several large investors have recently made changes to their positions in PNC. Transcend Capital Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 2.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 3,244 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 89 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in The PNC Financial Services Group by 16.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 4,582 shares of the financial services provider’s stock worth $710,000 after acquiring an additional 662 shares during the last quarter. Convergence Investment Partners LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth about $213,000. Eagle Wealth Strategies LLC bought a new stake in The PNC Financial Services Group during the 4th quarter worth about $309,000. Finally, Gilbert & Cook Inc. lifted its position in The PNC Financial Services Group by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 2,984 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 107 shares during the period. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Royal Bank of Canada boosted their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Jefferies Financial Group lifted their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. dropped their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $177.02.

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.