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 dated Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the sale, the chief executive officer now owns 543,523 shares of the company’s stock, valued at approximately $102,997,608.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock traded down $1.16 during midday trading on Monday, reaching $185.99. 642,991 shares of the stock were exchanged, compared to its average volume of 1,849,606. The company’s fifty day moving average is $183.94 and its 200-day moving average is $169.65. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 52 week low of $118.56 and a 52 week high of $196.64. The firm has a market cap of $73.93 billion, a PE ratio of 15.82, a PEG ratio of 2.00 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the business posted $3.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 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 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Kennebec Savings Bank purchased a new position in The PNC Financial Services Group in the 3rd quarter worth $567,000. Ashton Thomas Securities LLC bought a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $177,000. Los Angeles Capital Management LLC lifted its position in The PNC Financial Services Group by 77.3% in the third quarter. Los Angeles Capital Management LLC now owns 150,518 shares of the financial services provider’s stock valued at $27,823,000 after purchasing an additional 65,620 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of The PNC Financial Services Group by 2.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 140,917 shares of the financial services provider’s stock valued at $26,049,000 after purchasing an additional 3,612 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 220 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PNC has been the topic of several recent analyst reports. Stephens lifted their target price on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods raised their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and an average price target of $185.71.

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.