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 company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $172.00, for a total transaction of $213,624.00. Following the completion of the sale, the chief executive officer now owns 566,057 shares of the company’s stock, valued at approximately $97,361,804. This trade represents a 0.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $176.56 on Tuesday. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The firm has a market capitalization of $69.88 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The business’s 50 day simple moving average is $189.70 and its 200-day simple moving average is $192.31. 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 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates 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 PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.16 earnings per share. As a group, equities analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

Analyst Ratings Changes

A number of research firms have commented on PNC. Morgan Stanley lifted their price objective 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. Barclays increased their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler lifted 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. Truist Financial increased their price target on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Finally, Compass Point boosted their price objective 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group has an average rating of “Hold” and an average target price of $201.65.

Institutional Trading of The PNC Financial Services Group

Large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in The PNC Financial Services Group in the 4th quarter valued at approximately $1,352,151,000. Leigh Baldwin & CO. LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $299,864,000. Schroder Investment Management Group boosted its stake in shares of The PNC Financial Services Group by 166.1% during the fourth quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock valued at $265,436,000 after acquiring an additional 860,554 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after purchasing an additional 726,115 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in The PNC Financial Services Group by 22.5% in the 4th quarter. Bank of New York Mellon Corp now owns 3,870,548 shares of the financial services provider’s stock valued at $746,435,000 after purchasing an additional 710,311 shares during the last quarter. 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.