The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares of 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 on Friday, January 17th. The shares were sold at an average price of $198.00, for a total value of $245,916.00. Following the completion of the sale, the chief executive officer now directly owns 525,071 shares of the company’s stock, valued at approximately $103,964,058. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

The PNC Financial Services Group Stock Performance

The PNC Financial Services Group stock opened at $196.41 on Thursday. The firm has a market capitalization of $77.93 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The stock’s 50 day moving average price is $200.92 and its 200 day moving average price is $188.02. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The business had revenue of $5.57 billion for 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 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 company posted $3.16 earnings per share. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.26%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at approximately $512,000. Intech Investment Management LLC boosted its stake in The PNC Financial Services Group by 65.9% during the 2nd quarter. Intech Investment Management LLC now owns 3,003 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 1,193 shares during the last quarter. AE Wealth Management LLC grew its holdings in The PNC Financial Services Group by 38.4% during the 2nd quarter. AE Wealth Management LLC now owns 10,742 shares of the financial services provider’s stock worth $1,670,000 after acquiring an additional 2,983 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of The PNC Financial Services Group by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 28,517 shares of the financial services provider’s stock worth $4,434,000 after purchasing an additional 1,252 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of The PNC Financial Services Group by 8.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 32,910 shares of the financial services provider’s stock valued at $5,118,000 after purchasing an additional 2,508 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler lifted their price target 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. Truist Financial upped their price target on shares of 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. Wells Fargo & Company lifted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens restated 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. Finally, Compass Point lifted their target price 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.