Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $222,106.86 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 on Friday, March 7th. The stock was sold at an average price of $178.83, for a total value of $222,106.86. Following the transaction, the chief executive officer now owns 568,541 shares of the company’s stock, valued at approximately $101,672,187.03. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

The PNC Financial Services Group Trading Down 1.4 %

Shares of PNC stock opened at $168.63 on Friday. The stock has a 50-day simple moving average of $192.50 and a 200 day simple moving average of $192.58. The stock has a market capitalization of $66.74 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the firm posted $3.16 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side 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 declared a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.80%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Compass Point boosted their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler boosted their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial raised their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $205.00.

Institutional Investors Weigh In On The PNC Financial Services Group

A number of institutional investors and hedge funds have recently modified their holdings of PNC. Winch Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $25,000. Richardson Financial Services Inc. lifted its stake in 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 valued at $28,000 after buying an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

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.