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 stock in a transaction on Friday, March 7th. The stock was sold at an average price of $178.83, for a total value of $222,106.86. Following the sale, the chief executive officer now owns 568,541 shares in the company, valued at $101,672,187.03. The trade was a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

The PNC Financial Services Group Trading Down 2.3 %

NYSE PNC traded down $4.01 during trading on Tuesday, reaching $170.60. 931,460 shares of the stock traded hands, compared to its average volume of 2,133,118. 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 company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The firm has a market cap of $67.51 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The stock’s 50-day moving average price is $193.84 and its 200 day moving average price is $192.95.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $3.16 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current 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. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.75%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PNC shares. Barclays increased their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Citigroup raised their price target 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. Piper Sandler upped their price objective 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. Finally, Compass Point lifted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $205.00.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. lifted its stake in The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new position in The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. 83.53% of the stock is currently owned by institutional investors and hedge funds.

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.