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 - Get Free Report) CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the transaction, the chief executive officer now directly owns 554,879 shares of the company's stock, valued at $94,190,710.25. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Trading Up 0.7%

PNC traded up $1.18 during mid-day trading on Thursday, reaching $175.15. The stock had a trading volume of 1,457,533 shares, compared to its average volume of 2,053,455. The stock has a market capitalization of $69.28 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a 52 week low of $145.12 and a 52 week high of $216.26. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The firm's fifty day simple moving average is $165.13 and its two-hundred day simple moving average is $184.90.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.

Institutional Trading of The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in The PNC Financial Services Group during the fourth quarter worth $1,352,151,000. Massachusetts Financial Services Co. MA raised its holdings in shares of The PNC Financial Services Group by 26.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock valued at $1,670,249,000 after purchasing an additional 1,964,157 shares during the period. Nuveen LLC acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at about $306,905,000. Leigh Baldwin & CO. LLC bought a new position in The PNC Financial Services Group during the fourth quarter worth about $299,864,000. Finally, GAMMA Investing LLC increased its position in The PNC Financial Services Group by 19,279.5% during the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after buying an additional 1,143,079 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Morgan Stanley lowered their target price on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Citigroup cut their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Royal Bank of Canada decreased their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and a consensus price target of $202.67.

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.