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 business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $172.00, for a total value of $213,624.00. Following the completion of the transaction, the chief executive officer now owns 566,057 shares of the company’s stock, valued at $97,361,804. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

The PNC Financial Services Group Price Performance

PNC stock opened at $176.56 on Tuesday. The firm has a market cap of $69.88 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The stock has a 50-day simple moving average of $189.70 and a 200-day simple moving average of $192.31.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results 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 return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm earned $3.16 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.62%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNC. Truist Financial increased their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley boosted 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 report on Friday, January 17th. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Finally, Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $201.65.

Institutional Trading of The PNC Financial Services Group

Several institutional investors have recently added to or reduced their stakes in the stock. 111 Capital bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $672,000. NorthCrest Asset Manangement LLC grew its stake in The PNC Financial Services Group by 7.7% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 4,245 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 302 shares in the last quarter. Park Square Financial Group LLC bought a new stake in The PNC Financial Services Group in the fourth quarter valued at about $68,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $48,559,000. Finally, Brooklyn FI LLC bought a new position in The PNC Financial Services Group during the 4th quarter worth approximately $410,000. 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.