The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $235,359.00 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 on Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the transaction, the chief executive officer now directly owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $188.80 on Wednesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $118.56 and a fifty-two week high of $196.64. The firm’s 50 day moving average is $184.29 and its two-hundred day moving average is $170.18. The company has a market cap of $75.05 billion, a P/E ratio of 15.96, a P/E/G ratio of 1.99 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the firm earned $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Norden Group LLC increased its position in shares of The PNC Financial Services Group by 52.6% in the first quarter. Norden Group LLC now owns 2,630 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 907 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter worth $282,000. Mission Wealth Management LP acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at $247,000. Lincoln National Corp raised its position in The PNC Financial Services Group by 1.2% in the first quarter. Lincoln National Corp now owns 18,791 shares of the financial services provider’s stock valued at $3,037,000 after purchasing an additional 225 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of The PNC Financial Services Group by 5.6% during the first quarter. Nordea Investment Management AB now owns 29,619 shares of the financial services provider’s stock worth $4,779,000 after purchasing an additional 1,564 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PNC shares. Morgan Stanley raised their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada upped their price target on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company upped their target price on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $185.71.

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.