Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 1,242 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $183.74, for a total transaction of $228,205.08. Following the completion of the transaction, the chief executive officer now owns 549,733 shares of the company’s stock, valued at $101,007,941.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $179.95 on Wednesday. The company has a market cap of $71.60 billion, a P/E ratio of 15.11, a PEG ratio of 2.02 and a beta of 1.14. The business has a 50 day moving average of $178.10 and a two-hundred day moving average of $164.65. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $187.78. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the company earned $3.36 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at approximately $26,000. ORG Partners LLC grew its holdings in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after buying an additional 110 shares in the last quarter. LRI Investments LLC acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at approximately $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group during the 1st quarter valued at $29,000. Finally, Core Wealth Advisors Inc. acquired a new position in The PNC Financial Services Group during the 4th quarter worth $31,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PNC shares. Royal Bank of Canada upped their price objective on shares of The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Barclays raised their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Morgan Stanley upped their target price on The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods upped their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $176.90.

The PNC Financial Services Group Company Profile

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.