William S. Demchak Sells 1,242 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) 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 on Friday, March 28th. The stock was sold at an average price of $174.78, for a total value of $217,076.76. Following the completion of the sale, the chief executive officer now directly owns 564,815 shares of the company’s stock, valued at $98,718,365.70. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

The PNC Financial Services Group Stock Down 0.7 %

PNC traded down $1.19 during trading hours on Tuesday, hitting $174.58. 2,119,450 shares of the company’s stock were exchanged, compared to its average volume of 1,882,952. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. 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 cap of $69.09 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The firm has a 50 day moving average of $187.46 and a 200 day moving average of $192.20.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.16 earnings per share. Analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.67%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PNC shares. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday. Compass Point raised their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Wells Fargo & Company cut their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Piper Sandler increased their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $204.12.

Institutional Investors Weigh In On The PNC Financial Services Group

Large investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of The PNC Financial Services Group by 7.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 34,436 shares of the financial services provider’s stock worth $6,053,000 after purchasing an additional 2,448 shares in the last quarter. 111 Capital acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth about $672,000. NorthCrest Asset Manangement LLC boosted its position in shares of The PNC Financial Services Group by 7.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 4,245 shares of the financial services provider’s stock worth $819,000 after acquiring an additional 302 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $68,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $48,559,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

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.