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

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $179.14, for a total value of $222,491.88. Following the sale, the chief executive officer now owns 556,121 shares of the company’s stock, valued at approximately $99,623,515.94. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a 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 $178.57 on Tuesday. 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 company has a market capitalization of $70.64 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a one year low of $145.12 and a one year high of $216.26. The business has a 50 day simple moving average of $165.01 and a 200 day simple moving average of $186.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during 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%. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.58%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 45.20%.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Richardson Financial Services Inc. raised its position in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Saudi Central Bank bought a new position in The PNC Financial Services Group in the 1st quarter valued at $27,000. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the 4th quarter valued at $30,000. Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $32,000. Finally, Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $32,000. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PNC shares. Royal Bank of Canada decreased their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Morgan Stanley decreased their price target 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. TD Cowen started coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They set a “buy” rating and a $233.00 price target for the company. Finally, Citigroup decreased their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.67.

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.