The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $213,624.00 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, March 21st. The stock was sold at an average price of $172.00, for a total transaction of $213,624.00. Following the sale, the chief executive officer now owns 566,057 shares in the company, valued at $97,361,804. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

The PNC Financial Services Group Trading Up 0.2 %

Shares of The PNC Financial Services Group stock opened at $176.84 on Wednesday. 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 business has a fifty day simple moving average of $189.33 and a two-hundred day simple moving average of $192.31. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The company has a market capitalization of $69.98 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.55 and a beta of 1.13.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations 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 PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.16 EPS. Research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

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

Analyst Ratings Changes

PNC has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. 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 reiterated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Truist Financial lifted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Compass Point raised their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock 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 given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $201.65.

Institutional Trading of The PNC Financial Services Group

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in shares of The PNC Financial Services Group by 1.0% in the third quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after acquiring an additional 22,271 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth approximately $1,071,000. Great Valley Advisor Group Inc. increased its holdings in shares of The PNC Financial Services Group by 3.0% during the third quarter. Great Valley Advisor Group Inc. now owns 7,989 shares of the financial services provider’s stock worth $1,477,000 after purchasing an additional 230 shares during the period. Cerity Partners LLC raised its position in shares of The PNC Financial Services Group by 38.2% in the third quarter. Cerity Partners LLC now owns 121,379 shares of the financial services provider’s stock valued at $22,437,000 after buying an additional 33,540 shares in the last quarter. Finally, Pitcairn Co. boosted its stake in shares of The PNC Financial Services Group by 13.0% in the third quarter. Pitcairn Co. now owns 7,237 shares of the financial services provider’s stock valued at $1,338,000 after buying an additional 830 shares during the period. 83.53% of the stock is currently owned by institutional investors.

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.