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 PNC Financial Services Group stock in a transaction on Friday, January 10th. The shares were sold at an average price of $192.88, for a total transaction of $239,556.96. Following the completion of the sale, the chief executive officer now directly owns 526,313 shares of the company’s stock, valued at approximately $101,515,251.44. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

The PNC Financial Services Group Stock Performance

PNC traded up $3.64 during midday trading on Monday, reaching $192.66. The company had a trading volume of 1,193,707 shares, compared to its average volume of 1,911,202. The business has a 50-day moving average price of $201.47 and a two-hundred day moving average price of $186.01. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The stock has a market cap of $76.44 billion, a PE ratio of 16.29, a P/E/G ratio of 2.11 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $3.60 earnings per share. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

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. This represents a $6.40 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PNC shares. Compass Point lifted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Stephens increased their price objective on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler upped their price target on 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $203.29.

Institutional Investors Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Valley Wealth Managers Inc. raised its stake in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Quarry LP grew its holdings in The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after buying an additional 170 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of The PNC Financial Services Group during the third quarter valued at about $51,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in The PNC Financial Services Group by 231.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 220 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in The PNC Financial Services Group in the 3rd quarter valued at $70,000. Institutional investors own 83.53% of the company’s stock.

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.