Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 1,242 Shares of 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, November 22nd. The stock was sold at an average price of $205.98, for a total transaction of $255,827.16. Following the transaction, the chief executive officer now owns 535,007 shares of the company’s stock, valued at $110,200,741.86. The trade was a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

The PNC Financial Services Group Stock Up 1.1 %

Shares of The PNC Financial Services Group stock traded up $2.40 on Monday, hitting $212.47. The company had a trading volume of 2,293,160 shares, compared to its average volume of 1,878,414. The PNC Financial Services Group, Inc. has a 1 year low of $127.49 and a 1 year high of $214.64. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average of $191.01 and a 200-day moving average of $174.83. The stock has a market capitalization of $84.30 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 2.20 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the firm earned $3.60 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stephens increased their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Barclays increased their target price on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. 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 research report on Wednesday, October 16th. Finally, Compass Point downgraded shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Two investment 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, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $189.15.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bank & Trust Co purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at $26,000. ORG Partners LLC boosted its position in 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 worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $33,000. Finally, Valley Wealth Managers Inc. lifted its stake in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

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.