The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) CEO William S. Demchak sold 641 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $150.50, for a total transaction of $96,470.50. Following the sale, the chief executive officer now owns 562,291 shares in the company, valued at $84,624,795.50. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
The PNC Financial Services Group Stock Performance
Shares of The PNC Financial Services Group stock opened at $154.44 on Wednesday. The stock has a market capitalization of $61.12 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.55 and a beta of 1.04. The firm's fifty day simple moving average is $171.91 and its 200-day simple moving average is $188.77. 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 PNC Financial Services Group, Inc. has a 12 month low of $145.12 and a 12 month high of $216.26.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.
The PNC Financial Services Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be paid a $1.60 dividend. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.14%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 45.20%.
Institutional Investors Weigh In On The PNC Financial Services Group
Several large investors have recently modified their holdings of the stock. Mechanics Financial Corp purchased a new position in The PNC Financial Services Group during the 4th quarter worth $541,000. AssuredPartners Investment Advisors LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter valued at about $739,000. Premier Fund Managers Ltd boosted its holdings in The PNC Financial Services Group by 38.3% in the 4th quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock valued at $9,511,000 after purchasing an additional 13,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in The PNC Financial Services Group by 25.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock worth $7,739,000 after purchasing an additional 8,081 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 48.5% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider's stock valued at $5,160,000 after buying an additional 8,735 shares during the period. Hedge funds and other institutional investors own 83.53% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on PNC. Barclays lowered their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. Keefe, Bruyette & Woods lowered their price objective on The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a research report on Wednesday, April 16th. Finally, Stephens reissued an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $200.88.
Check Out Our Latest Stock Report on PNC
The PNC Financial Services Group Company Profile
(
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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