Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 641 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the sale, the chief executive officer now owns 567,682 shares in the company, valued at approximately $86,900,760.56. The sale was disclosed in a legal filing with the SEC, which is available at this link.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded up $0.66 during mid-day trading on Monday, reaching $156.14. The company’s stock had a trading volume of 1,579,669 shares, compared to its average volume of 1,897,420. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $162.24. The firm’s fifty day moving average price is $155.18 and its two-hundred day moving average price is $152.96. 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 stock has a market cap of $62.13 billion, a P/E ratio of 13.11, a PEG ratio of 2.22 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results 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 PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Friday, April 12th. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. BKM Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Tennessee Valley Asset Management Partners purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $28,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PNC shares. Bank of America boosted their target price on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. JPMorgan Chase & Co. dropped their target price on shares of 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. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $152.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Finally, Evercore ISI upped their price target 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, June 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.