The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $229,770.00 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $185.00, for a total transaction of $229,770.00. Following the completion of the sale, the chief executive officer now directly owns 547,249 shares of the company’s stock, valued at $101,241,065. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

The PNC Financial Services Group Stock Up 2.0 %

PNC traded up $3.82 during trading hours on Tuesday, reaching $192.34. 2,967,902 shares of the stock traded hands, compared to its average volume of 1,859,249. The firm’s fifty day simple moving average is $179.14 and its two-hundred day simple moving average is $166.39. The company has a market cap of $76.53 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $196.64. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business earned $3.36 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.33%. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC increased its position in shares of The PNC Financial Services Group by 38.4% in the first quarter. Jennison Associates LLC now owns 1,051,307 shares of the financial services provider’s stock worth $169,891,000 after acquiring an additional 291,769 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake 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 valued at $71,163,000 after acquiring an additional 276,200 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of The PNC Financial Services Group by 24.1% in the second quarter. Hsbc Holdings PLC now owns 1,351,548 shares of the financial services provider’s stock worth $209,962,000 after buying an additional 262,654 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of The PNC Financial Services Group by 5,419.9% in the second quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock worth $40,277,000 after buying an additional 254,356 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of The PNC Financial Services Group by 6.8% in the second quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock worth $544,335,000 after buying an additional 223,955 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PNC shares. Barclays boosted their price target on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Citigroup upped their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price target 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. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $185.00 to $200.00 in a research report on Thursday, August 15th. Two 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $177.65.

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.