Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 1,242 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the transaction, the chief executive officer now owns 567,299 shares of the company’s stock, valued at $97,093,223.85. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded up $0.91 during trading on Monday, reaching $173.90. The company had a trading volume of 990,332 shares, compared to its average volume of 2,148,627. The firm’s 50 day simple moving average is $192.04 and its two-hundred day simple moving average is $192.71. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The company has a market capitalization of $68.82 billion, a PE ratio of 12.65, a PEG ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.16 EPS. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 46.55%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays upped their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup upped their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Truist Financial upped their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a report on Friday, January 17th. Piper Sandler increased their price target 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. Finally, The Goldman Sachs Group increased 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $205.00.

Institutional Trading of The PNC Financial Services Group

Several institutional investors have recently modified their holdings of the company. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. raised its stake in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. 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.