The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) CEO William S. Demchak sold 601 shares of The PNC Financial Services Group stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $160.00, for a total transaction of $96,160.00. Following the completion of the sale, the chief executive officer now owns 563,573 shares in the company, valued at approximately $90,171,680. This represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
The PNC Financial Services Group Stock Performance
The PNC Financial Services Group stock opened at $151.99 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $60.15 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The company's 50-day moving average is $179.25 and its 200 day moving average is $190.38.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. 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 $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.21%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.
Analyst Ratings Changes
A number of research analysts have recently weighed in on PNC shares. JPMorgan Chase & Co. cut their price objective 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 Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Citigroup reduced their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company lowered their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $203.47.
Read Our Latest Research Report on The PNC Financial Services Group
Institutional Trading of The PNC Financial Services Group
A number of large investors have recently made changes to their positions in PNC. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. boosted its holdings in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the fourth quarter worth approximately $30,000. Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. 83.53% of the stock is owned by hedge funds and other institutional investors.
About The PNC Financial Services Group
(
Get Free Report)
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.
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