The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $174.78, for a total transaction of $217,076.76. Following the completion of the transaction, the chief executive officer now owns 564,815 shares of the company’s stock, valued at $98,718,365.70. This represents a 0.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $1.19 during mid-day trading on Tuesday, reaching $174.58. The stock had a trading volume of 2,119,450 shares, compared to its average volume of 1,882,952. The PNC Financial Services Group, Inc. has a twelve month low of $143.52 and a twelve month high of $216.26. The business has a 50 day simple moving average of $187.46 and a 200 day simple moving average of $192.20. The firm has a market capitalization of $69.09 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.55 and a beta of 1.13. 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 quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The business had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm earned $3.16 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.67%. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Hedge Funds Weigh In On The PNC Financial Services Group

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in The PNC Financial Services Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after buying an additional 268,827 shares during the period. State Street Corp increased its stake in The PNC Financial Services Group by 0.6% in the 3rd quarter. State Street Corp now owns 17,299,381 shares of the financial services provider’s stock valued at $3,197,791,000 after purchasing an additional 100,573 shares in the last quarter. Franklin Resources Inc. boosted its position in The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after purchasing an additional 549,278 shares in the last quarter. Geode Capital Management LLC boosted its position in The PNC Financial Services Group by 2.0% during the third quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider’s stock worth $1,541,155,000 after purchasing an additional 166,138 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in The PNC Financial Services Group by 10.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after purchasing an additional 726,115 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research analyst reports. Hsbc Global Res raised The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research report on Monday. Stephens reiterated an “equal weight” rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research report on Friday, January 17th. Truist Financial lifted their target price on shares of 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. Finally, Wells Fargo & Company decreased their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $204.12.

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.