Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $236,315.34 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $190.27, for a total value of $236,315.34. Following the sale, the chief executive officer now owns 544,765 shares of the company’s stock, valued at approximately $103,652,436.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $190.31 on Thursday. The company has a market capitalization of $75.73 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The company’s 50-day moving average is $183.49 and its 200 day moving average is $168.94. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a fifty-two week low of $112.36 and a fifty-two week high of $196.64.

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 analysts’ consensus estimates of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.60 EPS. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.36%. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Analysts Set New Price Targets

PNC has been the subject of a number of recent research reports. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $200.00 in a research note on Thursday, August 15th. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price target on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Stephens increased their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Citigroup lifted their target price on 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. 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $185.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PNC. ORG Partners LLC lifted its holdings in The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 110 shares during the last quarter. Bank & Trust Co purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth $29,000. Finally, Y.D. More Investments Ltd purchased a new position in The PNC Financial Services Group during the 2nd quarter valued at about $33,000. Institutional investors own 83.53% of the company’s stock.

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.