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 stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the transaction, the chief executive officer now owns 526,313 shares in the company, valued at approximately $101,515,251.44. The trade was a 0.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Price Performance

The PNC Financial Services Group stock opened at $195.81 on Wednesday. The stock has a 50-day moving average price of $201.75 and a two-hundred day moving average price of $186.58. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The company has a market capitalization of $77.69 billion, a PE ratio of 16.55, a P/E/G ratio of 2.11 and a beta of 1.16. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business earned $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.27%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 54.10%.

Institutional Trading of The PNC Financial Services Group

Institutional investors have recently modified their holdings of the business. Concurrent Investment Advisors LLC lifted its holdings in The PNC Financial Services Group by 45.6% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new position in shares of The PNC Financial Services Group in the third quarter worth approximately $12,548,000. Bleakley Financial Group LLC boosted its holdings in The PNC Financial Services Group by 9.0% in the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after acquiring an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $822,000. Finally, Aljian Capital Management LLC bought a new position in The PNC Financial Services Group during the 3rd quarter worth approximately $839,000. Institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PNC shares. Truist Financial started coverage on The PNC Financial Services Group in a research report on Tuesday, January 7th. They set a “hold” rating and a $215.00 price target on the stock. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Barclays increased their price objective 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. Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $203.29.

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.