The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $239,556.96 in 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 dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the sale, the chief executive officer now owns 526,313 shares of the company’s stock, valued at approximately $101,515,251.44. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

The PNC Financial Services Group Trading Up 1.9 %

Shares of NYSE:PNC traded up $3.64 during midday trading on Monday, hitting $192.66. 1,193,707 shares of the stock traded hands, compared to its average volume of 1,911,202. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The business’s 50 day moving average is $201.47 and its two-hundred day moving average is $186.01. The stock has a market capitalization of $76.44 billion, a PE ratio of 16.29, a P/E/G ratio of 2.11 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 PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $3.60 EPS. As a group, research 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 54.10%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in The PNC Financial Services Group during the 2nd quarter valued at approximately $92,000. DekaBank Deutsche Girozentrale grew its stake in The PNC Financial Services Group by 0.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 110,410 shares of the financial services provider’s stock worth $16,567,000 after purchasing an additional 422 shares during the period. GHP Investment Advisors Inc. grew its stake in The PNC Financial Services Group by 3.8% in the second quarter. GHP Investment Advisors Inc. now owns 12,072 shares of the financial services provider’s stock worth $1,877,000 after purchasing an additional 442 shares during the period. 1ST Source Bank purchased a new position in The PNC Financial Services Group during the second quarter valued at $278,000. Finally, Parallel Advisors LLC lifted its position in The PNC Financial Services Group by 8.4% during the second quarter. Parallel Advisors LLC now owns 3,594 shares of the financial services provider’s stock valued at $559,000 after buying an additional 277 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Citigroup raised their price target on 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. Wells Fargo & Company upped their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Truist Financial initiated coverage on The PNC Financial Services Group in a report on Tuesday, January 7th. They set a “hold” rating and a $215.00 price objective on the stock. Finally, Compass Point increased their price target on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $203.29.

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.