The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $245,916.00 in Stock

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

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $199.49 on Friday. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-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 stock has a market cap of $79.15 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. The business has a 50-day simple moving average of $200.45 and a 200-day simple moving average of $188.14.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The business 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 business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.16 EPS. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given 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 yield of 3.21%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Flavin Financial Services Inc. purchased a new position in shares of The PNC Financial Services Group in the 4th quarter valued at about $2,347,000. Trust Point Inc. grew its holdings in The PNC Financial Services Group by 5.4% in the fourth quarter. Trust Point Inc. now owns 2,604 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 134 shares during the period. Baltimore Washington Financial Advisors Inc. increased its position in shares of The PNC Financial Services Group by 3.1% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock valued at $324,000 after buying an additional 51 shares in the last quarter. Financial Life Planners acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $37,000. Finally, Catalina Capital Group LLC lifted its position in shares of The PNC Financial Services Group by 6.2% during the 4th quarter. Catalina Capital Group LLC now owns 2,052 shares of the financial services provider’s stock valued at $396,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $205.00.

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.