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

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $174.78, for a total value of $217,076.76. Following the transaction, the chief executive officer now directly owns 564,815 shares of the company’s stock, valued at approximately $98,718,365.70. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $160.99 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $63.71 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The firm has a 50-day moving average of $185.87 and a two-hundred day moving average of $191.86. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.98%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Institutional Trading of The PNC Financial Services Group

Several hedge funds and other institutional investors have recently made changes to their positions in PNC. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $25,000. Richardson Financial Services Inc. raised its stake in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PNC shares. HSBC upgraded The PNC Financial Services Group from a “hold” rating to a “buy” rating and lowered their target price for the company from $206.00 to $202.00 in a research report on Monday. Morgan Stanley lifted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $205.65.

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.