The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares of 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 on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the transaction, the chief executive officer now owns 527,555 shares in the company, valued at approximately $101,369,693.25. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Trading Down 0.1 %

Shares of PNC stock opened at $195.35 on Tuesday. The stock has a market cap of $77.51 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a 50 day simple moving average of $201.08 and a 200 day simple moving average of $184.87.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the company posted $3.60 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.28%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $33,000. Capital Performance Advisors LLP acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $51,000. Quarry LP lifted its position in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after buying an additional 170 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PNC. Citigroup boosted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Compass Point upped their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Stephens lifted their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Piper Sandler increased their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Barclays raised their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $202.56.

About The PNC Financial Services Group

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.