The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares

The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the sale, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $1.19 during midday trading on Tuesday, reaching $168.21. The company had a trading volume of 1,566,747 shares, compared to its average volume of 1,928,323. The stock has a fifty day simple moving average of $163.82 and a 200 day simple moving average of $156.87. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $182.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $66.93 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.30. The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.36 earnings per share. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 13.04 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 15th were given a dividend of $1.60 per share. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.55. The ex-dividend date was Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.80%. The PNC Financial Services Group's payout ratio is currently 53.74%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an "overweight" rating in a research note on Wednesday, July 17th. Jefferies Financial Group raised their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a "hold" rating in a research report on Wednesday, July 3rd. Morgan Stanley boosted their price target on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an "underweight" rating in a research note on Tuesday, July 30th. Finally, Evercore ISI increased their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $176.09.

Institutional Investors Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently modified their holdings of the business. Sapient Capital LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $227,000. Tennessee Valley Asset Management Partners acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $26,000. Simplicity Solutions LLC increased its position in shares of The PNC Financial Services Group by 2.2% in the fourth quarter. Simplicity Solutions LLC now owns 13,142 shares of the financial services provider's stock valued at $2,035,000 after acquiring an additional 286 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $3,732,000. Finally, Carnegie Capital Asset Management LLC boosted its position in The PNC Financial Services Group by 1.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 8,453 shares of the financial services provider's stock valued at $1,309,000 after purchasing an additional 129 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

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.