The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $236,315.34 in Stock

by · The Markets Daily

The PNC Financial Services Group, Inc. (NYSE:PNC – Get Free Report) CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $190.27, for a total value of $236,315.34. Following the sale, the chief executive officer now directly owns 544,765 shares in the company, valued at approximately $103,652,436.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

The PNC Financial Services Group Stock Up 2.2 %

Shares of PNC traded up $4.01 on Monday, hitting $189.83. The company’s stock had a trading volume of 1,188,869 shares, compared to its average volume of 1,860,136. The firm’s fifty day moving average price is $182.56 and its 200-day moving average price is $168.28. The PNC Financial Services Group, Inc. has a fifty-two week low of $111.08 and a fifty-two week high of $196.64. 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 firm has a market capitalization of $75.53 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.98 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC – Get Free Report) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the firm earned $3.60 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.37%. The PNC Financial Services Group’s dividend payout ratio is presently 53.74%.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds have recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in The PNC Financial Services Group by 24.4% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 138,231 shares of the financial services provider’s stock valued at $25,552,000 after buying an additional 27,124 shares during the period. Congress Asset Management Co. bought a new stake in The PNC Financial Services Group in the 3rd quarter valued at $237,000. Catalyst Financial Partners LLC acquired a new stake in The PNC Financial Services Group during the 3rd quarter valued at $234,000. Financial Advocates Investment Management lifted its stake in shares of The PNC Financial Services Group by 5.5% during the 3rd quarter. Financial Advocates Investment Management now owns 1,905 shares of the financial services provider’s stock worth $352,000 after buying an additional 99 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 242.6% during the 3rd quarter. JFS Wealth Advisors LLC now owns 10,341 shares of the financial services provider’s stock worth $1,912,000 after buying an additional 7,323 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Keefe, Bruyette & Woods increased their price objective on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their target price on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Stephens lifted their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Barclays increased their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Evercore ISI lifted their target price on shares of 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $185.71.

Check Out Our Latest Report on PNC

About The PNC Financial Services Group

(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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