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 stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total transaction of $238,650.30. Following the completion of the sale, the chief executive officer now directly owns 527,555 shares of the company’s stock, valued at $101,369,693.25. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

The PNC Financial Services Group Stock Down 0.1 %

Shares of The PNC Financial Services Group stock opened at $194.51 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average price of $201.30 and a 200 day moving average price of $185.23. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The firm has a market cap of $77.18 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.60 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal 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 given a $1.60 dividend. 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 3.29%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors have recently modified their holdings of the business. TD Asset Management Inc lifted its holdings in shares of The PNC Financial Services Group by 4.4% in the 2nd quarter. TD Asset Management Inc now owns 183,037 shares of the financial services provider’s stock worth $28,459,000 after purchasing an additional 7,781 shares during the last quarter. New York Life Investment Management LLC lifted its stake in The PNC Financial Services Group by 1.0% in the second quarter. New York Life Investment Management LLC now owns 60,653 shares of the financial services provider’s stock valued at $9,430,000 after buying an additional 573 shares during the last quarter. Private Advisor Group LLC lifted its stake in The PNC Financial Services Group by 8.0% in the second quarter. Private Advisor Group LLC now owns 66,281 shares of the financial services provider’s stock valued at $10,305,000 after buying an additional 4,912 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of The PNC Financial Services Group by 0.7% during the second quarter. Savant Capital LLC now owns 12,032 shares of the financial services provider’s stock valued at $1,871,000 after acquiring an additional 79 shares during the period. Finally, Lake Street Advisors Group LLC grew its position in shares of The PNC Financial Services Group by 1.8% during the second quarter. Lake Street Advisors Group LLC now owns 11,325 shares of the financial services provider’s stock worth $1,761,000 after acquiring an additional 199 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PNC shares. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Stephens increased their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Piper Sandler boosted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $203.29.

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.