The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $243,643.14 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $196.17, for a total transaction of $243,643.14. Following the transaction, the chief executive officer now directly owns 523,829 shares in the company, valued at $102,759,534.93. The trade was a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $201.70 on Wednesday. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The stock has a market cap of $80.03 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.59 and a beta of 1.16. The stock’s 50 day moving average price is $200.21 and its 200 day moving average price is $189.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company earned $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.17%. The PNC Financial Services Group’s payout ratio is 46.55%.

Analyst Ratings Changes

Several brokerages have recently commented on PNC. Compass Point increased 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 research report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley lifted their target price on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Piper Sandler lifted their target price 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, The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $205.00.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AXA S.A. increased its holdings in shares of The PNC Financial Services Group by 46.8% in the second quarter. AXA S.A. now owns 12,125 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 3,865 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of The PNC Financial Services Group by 14.2% in the second quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock valued at $6,983,000 after buying an additional 5,640 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of The PNC Financial Services Group by 203.2% in the second quarter. APG Asset Management N.V. now owns 47,452 shares of the financial services provider’s stock valued at $6,884,000 after buying an additional 31,800 shares in the last quarter. Ascent Group LLC increased its holdings in shares of The PNC Financial Services Group by 11.3% in the second quarter. Ascent Group LLC now owns 7,594 shares of the financial services provider’s stock valued at $1,181,000 after buying an additional 768 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 31.0% in the second quarter. NewEdge Advisors LLC now owns 32,794 shares of the financial services provider’s stock valued at $5,099,000 after buying an additional 7,765 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

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.