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 PNC Financial Services Group stock in a transaction on Friday, February 28th. The shares were sold at an average price of $190.18, for a total transaction of $236,203.56. Following the completion of the sale, the chief executive officer now owns 569,783 shares in the company, valued at $108,361,330.94. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

The PNC Financial Services Group Trading Down 1.4 %

Shares of PNC stock opened at $189.26 on Tuesday. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The firm has a 50 day moving average price of $195.34 and a two-hundred day moving average price of $192.78. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $74.90 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.16 EPS. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PNC shares. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley boosted their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Stephens reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Barclays raised their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Citigroup upped their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $205.00.

Institutional Trading of The PNC Financial Services Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC bought a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $68,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $48,559,000. Brooklyn FI LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth $410,000. REAP Financial Group LLC raised its holdings in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Finally, Jefferies Financial Group Inc. lifted its position in shares of The PNC Financial Services Group by 307.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 17,210 shares of the financial services provider’s stock valued at $3,319,000 after acquiring an additional 12,991 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.