The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $222,491.88 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $179.14, for a total value of $222,491.88. Following the completion of the sale, the chief executive officer now directly owns 556,121 shares of the company’s stock, valued at approximately $99,623,515.94. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Stock Down 0.6%

Shares of NYSE PNC traded down $1.01 on Monday, hitting $178.41. The company had a trading volume of 759,306 shares, compared to its average volume of 2,046,185. 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 PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The business has a 50 day moving average of $164.86 and a two-hundred day moving average of $186.19. The firm has a market capitalization of $70.57 billion, a P/E ratio of 12.98, a PEG ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s payout ratio is 45.20%.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds have recently modified their holdings of PNC. Norges Bank purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $1,352,151,000. Massachusetts Financial Services Co. MA grew its stake in The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock valued at $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Nuveen LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at about $306,905,000. Leigh Baldwin & CO. LLC purchased a new position in The PNC Financial Services Group in the fourth quarter valued at about $299,864,000. Finally, GAMMA Investing LLC grew its stake in The PNC Financial Services Group by 19,279.5% in the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider’s stock valued at $201,961,000 after purchasing an additional 1,143,079 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PNC. Morgan Stanley decreased their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods decreased their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company decreased their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. decreased their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, TD Cowen started coverage on The PNC Financial Services Group in a report on Thursday. They issued a “buy” rating and a $233.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.67.

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.