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 stock in a transaction on Friday, May 9th. The stock was sold at an average price of $166.79, for a total value of $207,153.18. Following the sale, the chief executive officer now owns 557,363 shares of the company’s stock, valued at approximately $92,962,574.77. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

The PNC Financial Services Group Trading Up 1.6%

Shares of NYSE:PNC opened at $177.74 on Wednesday. The company has a market cap of $70.31 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.55 and a beta of 1.06. The stock’s 50-day moving average is $164.61 and its 200-day moving average is $186.42. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baltimore Washington Financial Advisors Inc. grew its position in The PNC Financial Services Group by 3.1% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after buying an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in The PNC Financial Services Group by 2.4% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after buying an additional 53 shares in the last quarter. Transcend Capital Advisors LLC grew its position in The PNC Financial Services Group by 1.8% during the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after buying an additional 55 shares in the last quarter. Valmark Advisers Inc. grew its position in The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after buying an additional 56 shares in the last quarter. Finally, Gilbert & Cook Inc. grew its position in The PNC Financial Services Group by 2.1% during the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider’s stock worth $537,000 after buying an additional 58 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PNC. JPMorgan Chase & Co. cut their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a report on Wednesday, April 16th. Barclays cut their price objective on The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their price objective for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Finally, Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus price target of $200.88.

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.