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 business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $192.15, for a total value of $238,650.30. Following the completion of the transaction, the chief executive officer now directly owns 527,555 shares in the company, valued at $101,369,693.25. This represents a 0.23 % 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 this hyperlink.

The PNC Financial Services Group Stock Performance

PNC stock traded down $0.28 during midday trading on Monday, hitting $195.35. The company’s stock had a trading volume of 2,591,144 shares, compared to its average volume of 1,883,207. The stock has a market cap of $77.51 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock’s 50-day moving average price is $200.97 and its 200 day moving average price is $184.57. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm earned $3.60 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.28%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Stephens upped their price target 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. Finally, Barclays boosted their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus price target of $202.56.

Hedge Funds Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently bought and sold shares of PNC. Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at $33,000. Valley Wealth Managers Inc. lifted its holdings in The PNC Financial Services Group by 20,000.0% during the third 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 last quarter. Quarry LP boosted its position in The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of The PNC Financial Services Group in the third quarter worth about $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 220 shares during the period. 83.53% of the stock is owned by institutional investors.

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.