Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 1,242 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $209.24, for a total value of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares in the company, valued at approximately $111,425,112.52. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $204.46 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The company has a 50-day simple moving average of $197.02 and a 200-day simple moving average of $178.93. The company has a market capitalization of $81.13 billion, a PE ratio of 17.28, a P/E/G ratio of 2.18 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $3.60 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.13%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently bought and sold shares of PNC. Diversify Advisory Services LLC boosted its position in shares of The PNC Financial Services Group by 10.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 1,951 shares of the financial services provider’s stock worth $315,000 after buying an additional 189 shares in the last quarter. RFG Advisory LLC purchased a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $253,000. Sequoia Financial Advisors LLC grew its position in shares of The PNC Financial Services Group by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 9,073 shares of the financial services provider’s stock valued at $1,411,000 after purchasing an additional 352 shares during the last quarter. Wedmont Private Capital increased its stake in shares of The PNC Financial Services Group by 14.3% during the 2nd quarter. Wedmont Private Capital now owns 3,913 shares of the financial services provider’s stock worth $660,000 after purchasing an additional 489 shares in the last quarter. Finally, M&G Plc raised its position in shares of The PNC Financial Services Group by 50.6% during the 2nd quarter. M&G Plc now owns 55,260 shares of the financial services provider’s stock worth $8,565,000 after purchasing an additional 18,564 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Keefe, Bruyette & Woods lifted their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Barclays raised their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Compass Point raised their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $198.02.

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.