The PNC Financial Services Group (NYSE:PNC) CEO Sells $11,544,000.00 in Stock

The PNC Financial Services Group, Inc (NYSE:PNC) CEO William Demchak sold 50,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $230.88, for a total transaction of $11,544,000.00. Following the sale, the chief executive officer owned 554,274 shares of the company’s stock, valued at approximately $127,970,781.12. This represents a 8.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

The PNC Financial Services Group Trading Down 1.4%

NYSE PNC traded down $3.09 during trading hours on Tuesday, hitting $217.68. The company’s stock had a trading volume of 1,385,236 shares, compared to its average volume of 2,816,262. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $243.94. The firm has a market capitalization of $85.36 billion, a P/E ratio of 13.12, a PEG ratio of 0.97 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average of $221.59 and a 200 day moving average of $203.73.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Friday, January 16th. The financial services provider reported $4.88 EPS for the quarter, beating the consensus estimate of $4.23 by $0.65. The PNC Financial Services Group had a net margin of 20.40% and a return on equity of 11.87%. The company had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $5.90 billion. During the same quarter in the previous year, the company posted $3.77 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, January 20th. The PNC Financial Services Group’s payout ratio is presently 40.99%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PNC. JPMorgan Chase & Co. increased their target price on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the stock an “underweight” rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Finally, TD Cowen increased their target price on The PNC Financial Services Group from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Fifteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $234.44.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently bought and sold shares of the company. SG Trading Solutions LLC acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $363,000. Monetary Solutions Ltd acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $25,000. MV Capital Management Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $75,000. Cambient Family Office LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at about $544,000. Finally, Wick Capital Partners LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at about $1,050,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.