Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $252,200.52 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 on Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the completion of the transaction, the chief executive officer now owns 531,281 shares in the company, valued at $107,881,919.86. The trade was a 0.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Stock Down 1.0 %

Shares of PNC opened at $190.03 on Friday. The company’s 50-day moving average price is $199.86 and its 200 day moving average price is $181.09. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The firm has a market cap of $75.40 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 2.11 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.60 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.37%. The PNC Financial Services Group’s dividend payout ratio is currently 54.10%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent research reports. Piper Sandler increased 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. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Citigroup lifted their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Evercore ISI upped their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $200.81.

Institutional Investors Weigh In On The PNC Financial Services Group

Several institutional investors and hedge funds have recently modified their holdings of PNC. Fidelity D & D Bancorp Inc. boosted its holdings in The PNC Financial Services Group by 1.4% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 9,708 shares of the financial services provider’s stock valued at $1,795,000 after acquiring an additional 138 shares during the period. Franklin Resources Inc. lifted its position in shares of The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after purchasing an additional 123,994 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of The PNC Financial Services Group by 3.7% in the third quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock valued at $2,631,000 after purchasing an additional 509 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of The PNC Financial Services Group by 86.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider’s stock valued at $6,367,000 after purchasing an additional 15,962 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in The PNC Financial Services Group by 3.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 97,908 shares of the financial services provider’s stock worth $18,098,000 after buying an additional 3,595 shares during the period. Hedge funds and other institutional investors own 83.53% of the company’s stock.

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.