Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $212,568.30 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 dated Friday, March 14th. The shares were sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now owns 567,299 shares of the company’s stock, valued at $97,093,223.85. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $173.86 on Thursday. The company has a market capitalization of $68.81 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 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 50 day moving average price of $190.77 and a 200 day moving average price of $192.43.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business posted $3.16 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

Institutional Trading of The PNC Financial Services Group

A number of large investors have recently made changes to their positions in PNC. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $1,352,151,000. Leigh Baldwin & CO. LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth $299,864,000. Schroder Investment Management Group grew its position in The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider’s stock worth $265,436,000 after purchasing an additional 860,554 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of The PNC Financial Services Group by 22.5% in the fourth 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 buying an additional 710,311 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday. 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 report on Monday, November 25th. Stephens reaffirmed an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. 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 report on Tuesday, December 3rd. Finally, Truist Financial upped 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. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $203.71.

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.