The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $217,076.76 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $174.78, for a total transaction of $217,076.76. Following the completion of the transaction, the chief executive officer now directly owns 564,815 shares of the company’s stock, valued at $98,718,365.70. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

The PNC Financial Services Group Stock Up 1.5 %

Shares of NYSE:PNC opened at $177.24 on Thursday. The business’s 50 day moving average is $186.59 and its 200 day moving average is $192.07. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The stock has a market cap of $70.14 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.55 and a beta of 1.04. 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 PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.16 EPS. On average, sell-side 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were paid a $1.60 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.61%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased its position in shares of The PNC Financial Services Group by 7.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 34,436 shares of the financial services provider’s stock valued at $6,053,000 after acquiring an additional 2,448 shares during the last quarter. 111 Capital purchased a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $672,000. NorthCrest Asset Manangement LLC raised its stake in shares of The PNC Financial Services Group by 7.7% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 4,245 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 302 shares during the period. Park Square Financial Group LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $68,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $48,559,000. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PNC. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday. Citigroup reduced their price objective on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Wells Fargo & Company lowered their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Truist Financial boosted their price target 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. Finally, Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $204.12.

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.