The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) CEO William S. Demchak sold 1,202 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $160.00, for a total transaction of $192,320.00. Following the completion of the sale, the chief executive officer now directly owns 561,089 shares in the company, valued at $89,774,240. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
The PNC Financial Services Group Stock Performance
PNC opened at $158.49 on Friday. The company's 50 day moving average is $169.74 and its 200 day moving average is $188.25. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market cap of $62.72 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.55 and a beta of 1.04. 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 issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share 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 analysts' expectations of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's payout ratio is 45.20%.
Analyst Upgrades and Downgrades
Several research firms recently commented on PNC. Royal Bank of Canada dropped their price objective on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company cut their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. The Goldman Sachs Group lowered their price objective on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and cut their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. lowered 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $200.88.
Check Out Our Latest Report on PNC
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in PNC. Norges Bank bought a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $1,352,151,000. Leigh Baldwin & CO. LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $299,864,000. GAMMA Investing LLC lifted its stake in shares of The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after buying an additional 1,143,079 shares in the last quarter. Schroder Investment Management Group boosted its holdings in The PNC Financial Services Group by 166.1% in the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after buying an additional 860,554 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 10.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock worth $1,453,763,000 after buying an additional 726,115 shares in the last quarter. 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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