Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $258,485.04 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the transaction, the chief executive officer now owns 536,249 shares of the company’s stock, valued at $111,604,141.88. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Price Performance

PNC opened at $203.95 on Thursday. The company has a 50 day moving average of $189.79 and a two-hundred day moving average of $173.99. The PNC Financial Services Group, Inc. has a 52-week low of $127.08 and a 52-week high of $214.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The company has a market cap of $80.92 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.39 billion. During the same period in the prior year, the company earned $3.60 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.14%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently modified their holdings of PNC. Intech Investment Management LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter worth $292,000. UniSuper Management Pty Ltd increased its position in shares of The PNC Financial Services Group by 1,142.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,865 shares of the financial services provider’s stock worth $948,000 after purchasing an additional 5,393 shares during the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at about $4,299,000. Bessemer Group Inc. lifted its position in shares of The PNC Financial Services Group by 35.0% during the first quarter. Bessemer Group Inc. now owns 65,541 shares of the financial services provider’s stock worth $10,591,000 after purchasing an additional 17,008 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in The PNC Financial Services Group by 11.6% in the first quarter. Lake Street Advisors Group LLC now owns 11,126 shares of the financial services provider’s stock valued at $1,798,000 after buying an additional 1,159 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods upped their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Barclays upped their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their price objective on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $186.96.

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.