The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $255,827.16 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total transaction of $255,827.16. Following the sale, the chief executive officer now owns 535,007 shares of the company’s stock, valued at approximately $110,200,741.86. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

The PNC Financial Services Group Stock Up 0.8 %

PNC opened at $214.26 on Wednesday. The PNC Financial Services Group, Inc. has a fifty-two week low of $127.49 and a fifty-two week high of $214.81. The firm has a market capitalization of $85.01 billion, a P/E ratio of 18.11, a PEG ratio of 2.20 and a beta of 1.13. The company’s 50-day moving average is $192.29 and its 200 day moving average is $175.62. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business posted $3.60 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a yield of 2.99%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Institutional Investors Weigh In On The PNC Financial Services Group

Several large investors have recently added to or reduced their stakes in PNC. International Assets Investment Management LLC boosted its holdings in The PNC Financial Services Group by 12,940.0% in the 3rd quarter. International Assets Investment Management LLC now owns 536,989 shares of the financial services provider’s stock valued at $99,262,000 after purchasing an additional 532,871 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of The PNC Financial Services Group by 160.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 702,384 shares of the financial services provider’s stock worth $129,836,000 after acquiring an additional 433,178 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in The PNC Financial Services Group by 152.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 457,700 shares of the financial services provider’s stock worth $71,163,000 after acquiring an additional 276,200 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in The PNC Financial Services Group by 88.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 585,431 shares of the financial services provider’s stock valued at $108,217,000 after acquiring an additional 274,186 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in The PNC Financial Services Group by 24.1% during the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock valued at $209,962,000 after purchasing an additional 262,654 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PNC. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup increased their price target on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday. The Goldman Sachs Group lowered their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $185.00 to $200.00 in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $189.15.

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.