The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $212,568.30 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the firm’s 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 transaction, the chief executive officer now owns 567,299 shares in the company, valued at approximately $97,093,223.85. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

The PNC Financial Services Group Trading Down 0.5 %

NYSE PNC opened at $173.20 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The company has a market cap of $68.54 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The business’s fifty day moving average is $191.18 and its 200 day moving average is $192.56.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.16 EPS. As a group, sell-side analysts expect 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.70%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The PNC Financial Services Group by 25.3% during 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 period. Fifth Third Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 48.5% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after buying an additional 8,735 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in The PNC Financial Services Group by 2.0% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider’s stock worth $30,202,000 after buying an additional 3,100 shares during the period. Root Financial Partners LLC bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $346,000. Finally, Truist Financial Corp raised its position in shares of The PNC Financial Services Group by 1.4% in the 4th quarter. Truist Financial Corp now owns 1,132,634 shares of the financial services provider’s stock worth $218,429,000 after acquiring an additional 15,246 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on PNC. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Compass Point raised their target price on 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. Truist Financial raised their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Finally, Morgan Stanley raised their target price 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $205.00.

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.