William S. Demchak Sells 1,202 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,202 shares of the firm’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $160.00, for a total transaction of $192,320.00. Following the completion of the transaction, the chief executive officer now directly owns 561,089 shares in the company, valued at approximately $89,774,240. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

The PNC Financial Services Group Price Performance

PNC opened at $158.49 on Friday. The stock’s 50-day moving average price is $169.74 and its 200 day moving average price is $188.28. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The firm has a market cap of $62.72 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.55 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. As a group, sell-side analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently modified their holdings of the stock. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter worth about $25,000. Richardson Financial Services Inc. grew its position in shares of 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 buying an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Rialto Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PNC. Barclays decreased their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada lowered their price objective on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley cut their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Stephens reissued an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Finally, Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price 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.