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

by · The Cerbat Gem

The PNC Financial Services Group, Inc. (NYSE:PNC – Get Free Report) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $181.35, for a total value of $225,236.70. Following the completion of the transaction, the chief executive officer now directly owns 548,491 shares in the company, valued at approximately $99,468,842.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Trading Up 1.3 %

Shares of PNC opened at $183.27 on Thursday. The business has a 50-day moving average of $178.13 and a 200 day moving average of $165.61. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $187.78. The firm has a market cap of $72.92 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.36 EPS. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.15 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.74%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. ORG Partners LLC grew its stake in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after buying an additional 110 shares during the last quarter. Bank & Trust Co purchased a new stake in The PNC Financial Services Group in the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in The PNC Financial Services Group during the first quarter worth about $28,000. Palisade Asset Management LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Fortis Group Advisors LLC increased its position in shares of The PNC Financial Services Group by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 100 shares in the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PNC. Royal Bank of Canada raised their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Evercore ISI boosted their price objective on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Jefferies Financial Group raised their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, UBS Group upped their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $177.65.

View Our Latest Analysis on The PNC Financial Services Group

The PNC Financial Services Group Company Profile

(Get Free Report)

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.

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