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 firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $178.83, for a total transaction of $222,106.86. Following the completion of the transaction, the chief executive officer now owns 568,541 shares of the company’s stock, valued at approximately $101,672,187.03. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC traded down $4.01 during midday trading on Tuesday, reaching $170.60. 931,460 shares of the company’s stock were exchanged, compared to its average volume of 2,133,118. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50 day simple moving average is $193.84 and its two-hundred day simple moving average is $192.95. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The firm has a market capitalization of $67.51 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.16 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PNC. Winch Advisory Services LLC bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $25,000. Richardson Financial Services Inc. boosted its position in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $30,000. Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth about $32,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Barclays upped their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, Truist Financial increased their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and an average price target of $205.00.

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.