The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $235,098.18 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the sale, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

The PNC Financial Services Group Trading Up 0.4 %

Shares of The PNC Financial Services Group stock traded up $0.69 on Thursday, hitting $194.77. 738,248 shares of the company traded hands, compared to its average volume of 1,873,541. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average price is $200.17 and its 200-day moving average price is $182.35. The company has a market cap of $77.28 billion, a PE ratio of 16.46, a PEG ratio of 2.11 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 52 week low of $139.69 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The firm 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 firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.60 earnings per share. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a report on Wednesday, October 16th. Stephens upped 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 report on Wednesday, October 16th. Citigroup raised 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. Finally, Compass Point upped their price target on shares of 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, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $200.81.

Institutional Trading of The PNC Financial Services Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. lifted its position in shares of The PNC Financial Services Group by 5.1% during the second quarter. Harbour Investments Inc. now owns 2,357 shares of the financial services provider’s stock valued at $366,000 after buying an additional 114 shares during the last quarter. Strategic Blueprint LLC grew its holdings in The PNC Financial Services Group by 5.7% in the second quarter. Strategic Blueprint LLC now owns 1,831 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 98 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in The PNC Financial Services Group by 28.2% in the second quarter. Arkadios Wealth Advisors now owns 2,176 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 479 shares during the last quarter. F M Investments LLC acquired a new position in shares of The PNC Financial Services Group during the second quarter worth $2,625,000. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of The PNC Financial Services Group by 35.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 47,664 shares of the financial services provider’s stock valued at $7,411,000 after purchasing an additional 12,495 shares during the last quarter. 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.