The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $231,570.90 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, September 20th. The shares were sold at an average price of $186.45, for a total transaction of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares of the company’s stock, valued at approximately $102,729,288.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $184.62 on Wednesday. The company has a market cap of $73.46 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 2.00 and a beta of 1.14. The business has a 50 day moving average price of $177.58 and a 200 day moving average price of $163.53. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the business earned $3.36 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were issued a dividend of $1.60 per share. This is an increase from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.47%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds have recently made changes to their positions in PNC. Capital International Investors lifted its position in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock worth $2,556,195,000 after acquiring an additional 78,407 shares during the period. Ameriprise Financial Inc. lifted its position in The PNC Financial Services Group by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider’s stock worth $746,772,000 after purchasing an additional 18,397 shares during the period. Capital Research Global Investors boosted its stake in The PNC Financial Services Group by 19.5% during the fourth quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after buying an additional 778,264 shares in the last quarter. Putnam Investments LLC increased its holdings in The PNC Financial Services Group by 3.2% in the 4th quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock valued at $568,662,000 after buying an additional 114,960 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of The PNC Financial Services Group by 6.8% in the 2nd quarter. Legal & General Group Plc now owns 3,500,984 shares of the financial services provider’s stock valued at $544,335,000 after buying an additional 223,955 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PNC shares. Wells Fargo & Company lifted their price objective on 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. Barclays boosted their price target on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on shares of The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Finally, The Goldman Sachs Group cut their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $176.90.

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.