Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 641 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNCGet Free Report) CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the sale, the chief executive officer now directly owns 567,041 shares in the company, valued at approximately $89,649,182.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

The PNC Financial Services Group Stock Up 1.7 %

Shares of NYSE:PNC opened at $164.24 on Thursday. The stock has a fifty day simple moving average of $155.67 and a two-hundred day simple moving average of $153.32. The stock has a market capitalization of $65.35 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.26 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $164.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.98 earnings per share. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.65 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be issued a $1.60 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.90%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors and hedge funds have recently modified their holdings of PNC. Alps Advisors Inc. bought a new stake in shares of The PNC Financial Services Group in the 3rd quarter worth $351,000. Schroder Investment Management Group increased its holdings in shares of The PNC Financial Services Group by 4.4% in the 3rd quarter. Schroder Investment Management Group now owns 53,954 shares of the financial services provider’s stock worth $6,624,000 after purchasing an additional 2,253 shares in the last quarter. Toroso Investments LLC grew its holdings in shares of The PNC Financial Services Group by 7.2% in the third quarter. Toroso Investments LLC now owns 12,207 shares of the financial services provider’s stock worth $1,499,000 after acquiring an additional 824 shares during the period. Townsquare Capital LLC grew its holdings in shares of The PNC Financial Services Group by 8.2% in the third quarter. Townsquare Capital LLC now owns 16,279 shares of the financial services provider’s stock worth $1,999,000 after acquiring an additional 1,231 shares during the period. Finally, Morgan Stanley grew its holdings in shares of The PNC Financial Services Group by 1.0% in the third quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock worth $473,767,000 after acquiring an additional 36,362 shares during the period. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent research reports. Keefe, Bruyette & Woods restated an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. JPMorgan Chase & Co. cut their price objective on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Evercore ISI lifted their price objective on The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $159.63.

Get Our Latest Analysis on The PNC Financial Services Group

About The PNC Financial Services Group

(Get Free Report)

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.

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