Insider Selling: PNC Financial Services Group Inc (NYSE:PNC) CEO Sells 17,132 Shares of Stock

PNC Financial Services Group Inc (NYSE:PNC) CEO William S. Demchak sold 17,132 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $135.11, for a total transaction of $2,314,704.52. Following the completion of the transaction, the chief executive officer now directly owns 507,979 shares of the company’s stock, valued at $68,633,042.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

NYSE:PNC traded up $1.40 during trading hours on Friday, hitting $138.57. The stock had a trading volume of 1,301,958 shares, compared to its average volume of 1,764,638. The company has a 50 day simple moving average of $131.98 and a two-hundred day simple moving average of $131.93. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.90 and a quick ratio of 0.90. PNC Financial Services Group Inc has a one year low of $108.45 and a one year high of $145.30. The firm has a market capitalization of $61.40 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.80 and a beta of 1.11.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.05. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. During the same period last year, the firm earned $2.72 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that PNC Financial Services Group Inc will post 11.26 earnings per share for the current year.

Several research analysts recently commented on PNC shares. Robert W. Baird set a $141.00 price objective on shares of PNC Financial Services Group and gave the stock a “buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised their price objective on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Morgan Stanley set a $141.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, ValuEngine raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a report on Tuesday. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $143.22.

Large investors have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of PNC Financial Services Group by 3.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 134,806 shares of the financial services provider’s stock valued at $18,506,000 after buying an additional 4,825 shares in the last quarter. Boston Partners raised its position in shares of PNC Financial Services Group by 6.3% during the 2nd quarter. Boston Partners now owns 119,893 shares of the financial services provider’s stock valued at $16,459,000 after buying an additional 7,128 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of PNC Financial Services Group during the 2nd quarter valued at $978,000. Breiter Capital Management Inc. raised its position in shares of PNC Financial Services Group by 6.6% during the 2nd quarter. Breiter Capital Management Inc. now owns 1,739 shares of the financial services provider’s stock valued at $235,000 after buying an additional 108 shares in the last quarter. Finally, RFG Advisory LLC purchased a new stake in shares of PNC Financial Services Group during the 2nd quarter valued at $213,000. 80.83% of the stock is owned by hedge funds and other institutional investors.

About PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Insider Buying and Selling by Quarter for PNC Financial Services Group (NYSE:PNC)

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