William S. Demchak Sells 1,242 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $198.00, for a total transaction of $245,916.00. Following the sale, the chief executive officer now directly owns 525,071 shares of the company’s stock, valued at approximately $103,964,058. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

The PNC Financial Services Group Price Performance

NYSE:PNC opened at $197.43 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $78.33 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The company has a 50 day moving average price of $200.66 and a 200-day moving average price of $188.08. 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 posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.16 EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.24%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P grew its stake in The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 50 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 53 shares during the period. MFA Wealth Advisors LLC grew its stake in The PNC Financial Services Group by 5.4% in the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 55 shares during the period. Resonant Capital Advisors LLC grew its stake in The PNC Financial Services Group by 0.3% in the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after acquiring an additional 56 shares during the period. Finally, Altman Advisors Inc. grew its stake in The PNC Financial Services Group by 0.5% in the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock valued at $1,942,000 after acquiring an additional 56 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PNC shares. Citigroup increased 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 research report on Monday, November 25th. Truist Financial upped their price objective on shares of 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. The Goldman Sachs Group upped their price objective on shares of 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. Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Finally, Piper Sandler upped their price objective 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $205.00.

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.