The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares

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 dated Friday, August 2nd. The shares were sold at an average price of $173.82, for a total transaction of $215,884.44. Following the completion of the sale, the chief executive officer now directly owns 559,669 shares in the company, valued at approximately $97,281,665.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $170.23 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The business’s fifty day moving average price is $163.33 and its two-hundred day moving average price is $156.53. The stock has a market cap of $67.74 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 2.26 and a beta of 1.15. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $182.84.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the company earned $3.36 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 13.02 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Monday, July 15th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Institutional Trading of The PNC Financial Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of PNC. V Square Quantitative Management LLC boosted its holdings in shares of The PNC Financial Services Group by 23.3% during the first quarter. V Square Quantitative Management LLC now owns 8,483 shares of the financial services provider’s stock worth $1,371,000 after purchasing an additional 1,604 shares during the last quarter. Cerity Partners LLC grew its holdings in The PNC Financial Services Group by 15.0% in the 4th quarter. Cerity Partners LLC now owns 112,831 shares of the financial services provider’s stock valued at $17,472,000 after buying an additional 14,750 shares during the period. Vaughan David Investments LLC IL lifted its holdings in shares of The PNC Financial Services Group by 5.7% during the 4th quarter. Vaughan David Investments LLC IL now owns 251,447 shares of the financial services provider’s stock worth $38,937,000 after acquiring an additional 13,648 shares during the period. Grayhawk Investment Strategies Inc. purchased a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $1,200,000. Finally, Envestnet Asset Management Inc. grew its holdings in The PNC Financial Services Group by 0.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,548,543 shares of the financial services provider’s stock valued at $239,792,000 after purchasing an additional 6,657 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PNC has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Evercore ISI upped their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Barclays increased their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Citigroup upped their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $176.09.

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.