Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $235,098.18 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 dated Friday, December 20th. The shares were sold at an average price of $189.29, for a total transaction of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares of the company’s stock, valued at $100,331,082.31. This trade represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Price Performance

PNC stock opened at $193.28 on Friday. The company has a market cap of $76.69 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.15. 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 stock has a 50-day moving average price of $200.36 and a two-hundred day moving average price of $182.94. The PNC Financial Services Group, Inc. has a 12-month low of $139.69 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its 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 firm had revenue of $5.43 billion during 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 company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.60 EPS. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors 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 dividend on an annualized basis and a yield of 3.31%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 54.10%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd acquired a new stake in shares of The PNC Financial Services Group in the second quarter valued at about $33,000. Valley Wealth Managers Inc. grew its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. Quarry LP raised its stake in shares of The PNC Financial Services Group by 141.7% during the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 170 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of The PNC Financial Services Group during the third quarter worth $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 220 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Evercore ISI lifted their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Piper Sandler upped their price objective on 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. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Morgan Stanley upped their target price 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. Finally, Citigroup lifted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $200.81.

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.