Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $255,827.16 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 that occurred on Friday, November 22nd. The stock was sold at an average price of $205.98, for a total transaction of $255,827.16. Following the sale, the chief executive officer now owns 535,007 shares in the company, valued at approximately $110,200,741.86. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

The PNC Financial Services Group Trading Up 0.4 %

PNC opened at $215.00 on Thursday. The stock has a 50-day moving average of $192.94 and a 200 day moving average of $175.90. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 12 month low of $127.83 and a 12 month high of $216.18. The firm has a market cap of $85.31 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.22 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 2.98%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PNC shares. Wells Fargo & Company raised their target price 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. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Stephens boosted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI raised their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $189.15.

Institutional Trading of The PNC Financial Services Group

Several institutional investors and hedge funds have recently made changes to their positions in PNC. Concurrent Investment Advisors LLC increased its stake in The PNC Financial Services Group by 45.6% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd purchased a new position in shares of The PNC Financial Services Group during the third quarter worth approximately $12,548,000. Bleakley Financial Group LLC raised its stake in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after acquiring an additional 1,299 shares in the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $822,000. Finally, Manning & Napier Advisors LLC bought a new position in The PNC Financial Services Group in the second quarter worth approximately $18,159,000. 83.53% of the stock is currently owned by institutional investors.

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.