Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $207,153.18 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $166.79, for a total transaction of $207,153.18. Following the completion of the sale, the chief executive officer now owns 557,363 shares of the company’s stock, valued at $92,962,574.77. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

The PNC Financial Services Group Stock Up 1.0%

The PNC Financial Services Group stock opened at $179.64 on Friday. 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 firm has a market cap of $71.06 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.55 and a beta of 1.06. The business has a fifty day moving average of $164.67 and a two-hundred day moving average of $186.29. The PNC Financial Services Group, Inc. has a twelve month low of $145.12 and a twelve month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. On average, 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 company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Czech National Bank lifted its holdings in shares of The PNC Financial Services Group by 6.2% during the 4th quarter. Czech National Bank now owns 86,031 shares of the financial services provider’s stock valued at $16,591,000 after purchasing an additional 5,057 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in The PNC Financial Services Group during the 4th quarter valued at about $785,000. City State Bank raised its stake in The PNC Financial Services Group by 59.4% in the fourth quarter. City State Bank now owns 1,132 shares of the financial services provider’s stock valued at $218,000 after buying an additional 422 shares during the last quarter. Brookstone Capital Management boosted its holdings in The PNC Financial Services Group by 14.1% in the fourth quarter. Brookstone Capital Management now owns 15,394 shares of the financial services provider’s stock worth $2,969,000 after acquiring an additional 1,908 shares in the last quarter. Finally, Capital Investment Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $330,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PNC shares. HSBC raised shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. The Goldman Sachs Group reduced their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company dropped 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 report on Friday, March 28th. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 31st. Finally, Citigroup decreased their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.67.

The PNC Financial Services Group Company Profile

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.