The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $218,778.30 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the sale, the chief executive officer now directly owns 555,943 shares in the company, valued at approximately $97,929,359.45. The sale was disclosed in a legal filing with the SEC, which is available at this link.

The PNC Financial Services Group Trading Up 0.7 %

NYSE:PNC opened at $183.04 on Friday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $184.56. The stock has a market cap of $72.83 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.92 and a beta of 1.15. The company’s 50 day moving average price is $168.93 and its 200-day moving average price is $158.94. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the business posted $3.36 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were given a $1.60 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.50%. The PNC Financial Services Group’s payout ratio is 53.74%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Morgan Stanley upped their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $165.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. 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 stock presently has an average rating of “Hold” and an average price target of $177.02.

Institutional Trading of The PNC Financial Services Group

Large investors have recently made changes to their positions in the stock. Souders Financial Advisors grew its holdings in shares of The PNC Financial Services Group by 2.3% in the second quarter. Souders Financial Advisors now owns 22,408 shares of the financial services provider’s stock worth $3,484,000 after acquiring an additional 496 shares during the period. New Wave Wealth Advisors LLC purchased a new position in The PNC Financial Services Group in the second quarter worth about $278,000. KPP Advisory Services LLC grew its stake in shares of The PNC Financial Services Group by 8.9% during the 2nd quarter. KPP Advisory Services LLC now owns 3,531 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 288 shares during the period. Founders Financial Alliance LLC lifted its stake in shares of The PNC Financial Services Group by 2.8% in the 2nd quarter. Founders Financial Alliance LLC now owns 3,970 shares of the financial services provider’s stock worth $617,000 after purchasing an additional 107 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in shares of The PNC Financial Services Group by 4.2% in the second quarter. Cetera Investment Advisers now owns 117,328 shares of the financial services provider’s stock worth $18,242,000 after buying an additional 4,745 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

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.