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 company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $196.17, for a total value of $243,643.14. Following the transaction, the chief executive officer now directly owns 523,829 shares of the company’s stock, valued at approximately $102,759,534.93. This trade represents a 0.24 % decrease in their position. The transaction 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 opened at $202.71 on Tuesday. The stock has a market cap of $80.43 billion, a PE ratio of 14.74, a P/E/G ratio of 1.59 and a beta of 1.16. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day moving average of $200.29 and a 200-day moving average of $188.78. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.16 earnings per share. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.16%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors have recently modified their holdings of PNC. AXA S.A. raised its stake in The PNC Financial Services Group by 46.8% in the 2nd quarter. AXA S.A. now owns 12,125 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 3,865 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 14.2% during the second quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock worth $6,983,000 after purchasing an additional 5,640 shares during the period. APG Asset Management N.V. raised its position in shares of The PNC Financial Services Group by 203.2% in the second quarter. APG Asset Management N.V. now owns 47,452 shares of the financial services provider’s stock valued at $6,884,000 after buying an additional 31,800 shares in the last quarter. Ascent Group LLC boosted its stake in shares of The PNC Financial Services Group by 11.3% in the second quarter. Ascent Group LLC now owns 7,594 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 768 shares during the period. Finally, NewEdge Advisors LLC grew its position in The PNC Financial Services Group by 31.0% during the second quarter. NewEdge Advisors LLC now owns 32,794 shares of the financial services provider’s stock worth $5,099,000 after buying an additional 7,765 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PNC. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Friday, January 17th. Evercore ISI raised their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $205.00.

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.