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, March 28th. The shares were sold at an average price of $174.78, for a total value of $217,076.76. Following the completion of the sale, the chief executive officer now directly owns 564,815 shares of the company’s stock, valued at $98,718,365.70. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

The PNC Financial Services Group Trading Up 1.5 %

Shares of The PNC Financial Services Group stock opened at $177.24 on Thursday. The company has a market capitalization of $70.14 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.55 and a beta of 1.04. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day moving average price of $186.59 and a 200 day moving average price of $192.07. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26.

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

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.61%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PNC. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday. Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Citigroup decreased their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 24th. Compass Point lifted their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley lifted their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $204.12.

Institutional Trading of The PNC Financial Services Group

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock valued at $7,273,794,000 after acquiring an additional 268,827 shares during the last quarter. State Street Corp boosted its position in The PNC Financial Services Group by 0.6% during the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock worth $3,197,791,000 after purchasing an additional 100,573 shares during the period. Franklin Resources Inc. grew its stake in The PNC Financial Services Group by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock valued at $2,089,622,000 after buying an additional 549,278 shares during the last quarter. Geode Capital Management LLC increased its position in The PNC Financial Services Group by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after buying an additional 166,138 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after buying an additional 726,115 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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.