The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $213,624.00 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $172.00, for a total value of $213,624.00. Following the completion of the sale, the chief executive officer now directly owns 566,057 shares in the company, valued at approximately $97,361,804. The trade was a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $176.88 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26. The stock has a 50 day moving average price of $188.86 and a 200 day moving average price of $192.20. The company has a market capitalization of $70.00 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm posted $3.16 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PNC. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. raised its position in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT acquired a new stake in The PNC Financial Services Group during the 4th quarter worth $30,000. Synergy Asset Management LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $32,000. Finally, Rialto Wealth Management LLC acquired a new position in The PNC Financial Services Group in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PNC. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Stephens restated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Citigroup reduced their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday. Finally, Barclays boosted their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average price target of $201.65.

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.