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 PNC Financial Services Group stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $196.17, for a total transaction of $243,643.14. Following the completion of the transaction, the chief executive officer now directly owns 523,829 shares in the company, valued at $102,759,534.93. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $202.71 on Tuesday. The business has a 50-day moving average of $200.29 and a 200-day moving average of $188.78. 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 company has a market capitalization of $80.43 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.16. 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 released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business earned $3.16 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 earnings per share 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. Shareholders 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 dividend on an annualized basis and a yield of 3.16%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PNC. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. boosted its holdings in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $30,000. Synergy Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth approximately $32,000. Finally, Financial Life Planners bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at $37,000. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PNC shares. Barclays lifted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Stephens reissued an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Citigroup raised 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 note on Monday, November 25th. Wells Fargo & Company upped their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler raised their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock 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.