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 stock in a transaction on Friday, October 18th. The stock was sold at an average price of $190.57, for a total transaction of $236,687.94. Following the sale, the chief executive officer now owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $3.25 on Monday, hitting $186.13. The company’s stock had a trading volume of 413,766 shares, compared to its average volume of 1,862,190. 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 firm has a fifty day moving average price of $180.83 and a 200-day moving average price of $167.27. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $196.64. The company has a market capitalization of $74.06 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 2.06 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business 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 15.53% and a return on equity of 11.33%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $3.60 EPS. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.18 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.74%.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors have recently modified their holdings of the company. Resonant Capital Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 56 shares during the last quarter. Valley Brook Capital Group Inc. grew its holdings in The PNC Financial Services Group by 0.6% in the 2nd quarter. Valley Brook Capital Group Inc. now owns 10,598 shares of the financial services provider’s stock valued at $1,648,000 after buying an additional 62 shares during the period. Kowal Investment Group LLC increased its stake in shares of The PNC Financial Services Group by 2.6% during the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 68 shares during the last quarter. Ranch Capital Advisors Inc. lifted its holdings in shares of The PNC Financial Services Group by 1.0% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 7,137 shares of the financial services provider’s stock worth $1,110,000 after acquiring an additional 69 shares during the period. Finally, M&R Capital Management Inc. boosted its position in shares of The PNC Financial Services Group by 3.9% in the third quarter. M&R Capital Management Inc. now owns 1,925 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the topic of a number of research reports. Evercore ISI raised their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley boosted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. The Goldman Sachs Group dropped their price objective 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. Finally, Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $185.71.

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.