The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $101,342.10 in Stock

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

The PNC Financial Services Group Price Performance

NYSE PNC opened at $164.24 on Thursday. The business has a 50 day simple moving average of $155.67 and a 200 day simple moving average of $153.32. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $164.46. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap 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 (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the business earned $3.98 EPS. The PNC Financial Services Group’s revenue for the quarter was down 8.2% compared to the same quarter last year. 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. Investors of record on Monday, July 15th will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.90%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date is Monday, July 15th. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

Hedge Funds Weigh In On The PNC Financial Services Group

Several hedge funds have recently made changes to their positions in PNC. Norges Bank bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $1,039,481,000. Franklin Resources Inc. grew its stake in shares of The PNC Financial Services Group by 165.4% during the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock worth $756,957,000 after acquiring an additional 3,046,226 shares in the last quarter. Capital International Investors grew its stake in shares of The PNC Financial Services Group by 14.4% during the 4th quarter. Capital International Investors now owns 15,739,631 shares of the financial services provider’s stock worth $2,437,361,000 after acquiring an additional 1,978,854 shares in the last quarter. Capital Research Global Investors grew its stake in shares of The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after acquiring an additional 778,264 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of The PNC Financial Services Group by 15,539.2% during the 4th quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock worth $99,727,000 after acquiring an additional 639,903 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PNC has been the topic of several research reports. Keefe, Bruyette & Woods reiterated 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. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Evercore ISI upped their target price on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. cut their target price on shares of 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, Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $159.63.

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.