Insider Selling: PNC Financial Services Group CEO Sells 56,584 Shares of Stock (PNC)
PNC Financial Services Group (NYSE:PNC) CEO William Demchak sold 56,584 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $75.44, for a total value of $4,268,696.96. Following the transaction, the chief executive officer now directly owns 256,207 shares of the company’s stock, valued at approximately $19,328,256. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
PNC Financial Services Group (NYSE:PNC) traded up 0.72% during mid-day trading on Friday, hitting $75.36. The stock had a trading volume of 1,816,742 shares. PNC Financial Services Group has a 1-year low of $53.36 and a 1-year high of $77.93. The stock has a 50-day moving average of $74.65 and a 200-day moving average of $70.70. The company has a market cap of $40.092 billion and a price-to-earnings ratio of 11.07.
PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Wednesday, October 16th. The company reported $1.79 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.64 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 5th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, October 10th.
A number of analysts have recently weighed in on PNC shares. Analysts at Goldman Sachs Group Inc. raised their price target on shares of PNC Financial Services Group from $79.00 to $80.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of PNC Financial Services Group from $83.00 to $84.00 in a research note to investors on Thursday, October 17th. They now have a “buy” rating on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of PNC Financial Services Group from $78.00 to $80.00 in a research note to investors on Thursday, October 17th. They now have a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. PNC Financial Services Group currently has a consensus rating of “Hold” and an average target price of $78.74.
The PNC Financial Services Group, Inc (NYSE:PNC) is a financial service company.
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