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 company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the sale, the chief executive officer now directly owns 571,025 shares in the company, valued at approximately $109,893,761.25. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $186.68 on Tuesday. 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 firm has a market cap of $74.07 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The business has a 50-day simple moving average of $195.80 and a two-hundred day simple moving average of $192.09. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26.

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 firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 earnings per share. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.43%. The PNC Financial Services Group’s payout ratio is 46.55%.

Institutional Trading of The PNC Financial Services Group

Large investors have recently modified their holdings of the company. Liberty Square Wealth Partners LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter valued at approximately $607,000. Ameriflex Group Inc. bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $91,000. Ascent Group LLC increased its stake in shares of The PNC Financial Services Group by 3.8% in the 4th quarter. Ascent Group LLC now owns 8,311 shares of the financial services provider’s stock worth $1,603,000 after purchasing an additional 308 shares in the last quarter. Aurdan Capital Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth $741,000. Finally, Mackenzie Financial Corp lifted its position in The PNC Financial Services Group by 17.8% during the fourth quarter. Mackenzie Financial Corp now owns 327,387 shares of the financial services provider’s stock valued at $63,137,000 after purchasing an additional 49,571 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Truist Financial boosted their price objective 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. The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Compass Point boosted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $205.00.

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.