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 company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $203.06, for a total value of $252,200.52. Following the transaction, the chief executive officer now directly owns 531,281 shares in the company, valued at $107,881,919.86. This represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

The PNC Financial Services Group Trading Down 1.0 %

The PNC Financial Services Group stock opened at $190.03 on Friday. The firm has a market cap of $75.40 billion, a PE ratio of 16.06, a P/E/G ratio of 2.11 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The stock’s 50 day simple moving average is $199.86 and its two-hundred day simple moving average is $181.09. 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 PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the firm posted $3.60 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a $1.60 dividend. 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 presently 54.10%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PNC shares. Wells Fargo & Company upped their price objective 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. Barclays upped their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the company an “underweight” rating in a report on Wednesday, October 16th. Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted 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 note on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $200.81.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently bought and sold shares of PNC. Fidelity D & D Bancorp Inc. raised its stake in shares of 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 worth $1,795,000 after buying an additional 138 shares during the period. Franklin Resources Inc. raised its position in 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 acquiring an additional 123,994 shares during the period. Synovus Financial Corp raised its position in The PNC Financial Services Group by 3.7% during the third quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock worth $2,631,000 after acquiring an additional 509 shares during the period. Wilmington Savings Fund Society FSB grew its position 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 during the period. Finally, Sanctuary Advisors LLC grew its position in shares of The PNC Financial Services Group by 3.8% in the third quarter. Sanctuary Advisors LLC now owns 97,908 shares of the financial services provider’s stock valued at $18,098,000 after purchasing an additional 3,595 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.