The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $190.18, for a total transaction of $236,203.56. Following the sale, the chief executive officer now directly owns 569,783 shares in the company, valued at $108,361,330.94. The trade was a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

The PNC Financial Services Group Stock Down 4.9 %

PNC opened at $180.27 on Wednesday. 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 firm has a 50 day moving average price of $195.06 and a 200-day moving average price of $192.83. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The stock has a market capitalization of $71.34 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the company earned $3.16 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.55%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price 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. Truist Financial lifted their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Morgan Stanley lifted their target price on shares of 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. Wells Fargo & Company lifted their target price on shares of 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. Finally, Stephens reaffirmed 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. Two equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $205.00.

Institutional Trading of The PNC Financial Services Group

Several large investors have recently added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. grew its position in The PNC Financial Services Group by 2,333.3% during 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 during the period. Albion Financial Group UT bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. 83.53% of the stock is currently owned by institutional investors.

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.