William S. Demchak Sells 641 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $153.19, for a total value of $98,194.79. Following the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $151.93 on Friday. The business’s 50 day simple moving average is $155.04 and its 200 day simple moving average is $152.73. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $162.24. The company has a market cap of $60.45 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 2.17 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $3.09 by $0.01. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.98 earnings per share. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently made changes to their positions in PNC. BKM Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $26,000. LRI Investments LLC bought a new position in The PNC Financial Services Group in the 1st quarter valued at $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group during the first quarter valued at $29,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of The PNC Financial Services Group by 350.0% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PNC. JPMorgan Chase & Co. dropped their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Jefferies Financial Group cut their price objective on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 17th. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Tuesday. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $158.43.

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.