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

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.00, for a total transaction of $229,770.00. Following the transaction, the chief executive officer now owns 547,249 shares in the company, valued at $101,241,065. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

The PNC Financial Services Group Stock Down 1.3 %

Shares of NYSE:PNC opened at $189.92 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a fifty day simple moving average of $180.07 and a 200 day simple moving average of $166.78. The firm has a market cap of $75.57 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12-month low of $109.40 and a 12-month high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is currently 53.74%.

Institutional Investors Weigh In On The PNC Financial Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bleakley Financial Group LLC raised its position in The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock worth $2,913,000 after acquiring an additional 1,299 shares in the last quarter. Global Retirement Partners LLC raised its holdings in The PNC Financial Services Group by 4.4% during the 3rd quarter. Global Retirement Partners LLC now owns 13,378 shares of the financial services provider’s stock worth $2,473,000 after buying an additional 564 shares during the period. Good Life Advisors LLC acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth about $639,000. Amplius Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group during the 3rd quarter worth about $223,000. Finally, Vontobel Holding Ltd. grew its stake in The PNC Financial Services Group by 2.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,468 shares of the financial services provider’s stock valued at $6,187,000 after acquiring an additional 887 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group upped their target price on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price 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.