Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 1,242 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the sale, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at approximately $97,093,223.85. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

The PNC Financial Services Group Stock Up 0.3 %

Shares of NYSE PNC opened at $173.86 on Thursday. 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 firm’s 50-day moving average is $190.77 and its two-hundred day moving average is $192.43. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The company has a market capitalization of $68.81 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.51 billion. During the same quarter in the prior year, the company earned $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.68%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Morgan Stanley raised their price target 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. Citigroup upped their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $203.71.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock worth $7,739,000 after buying an additional 8,081 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after acquiring an additional 8,735 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after acquiring an additional 3,100 shares during the last quarter. Root Financial Partners LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter valued at approximately $346,000. Finally, Truist Financial Corp increased its position in The PNC Financial Services Group by 1.4% during the fourth quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock worth $218,429,000 after purchasing an additional 15,246 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

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.