The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 601 Shares

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 601 shares of the company’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $160.00, for a total value of $96,160.00. Following the completion of the sale, the chief executive officer now owns 563,573 shares of the company’s stock, valued at approximately $90,171,680. The trade was a 0.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

The PNC Financial Services Group Trading Down 4.8 %

Shares of PNC traded down $7.70 during mid-day trading on Thursday, reaching $152.53. 1,889,135 shares of the company’s stock traded hands, compared to its average volume of 1,949,176. 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 stock’s 50-day moving average is $180.16 and its two-hundred day moving average is $190.61. The PNC Financial Services Group, Inc. has a 12 month low of $143.52 and a 12 month high of $216.26. The stock has a market cap of $60.37 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.55 and a beta of 1.04.

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

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.20%. The PNC Financial Services Group’s dividend payout ratio is presently 46.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PNC shares. Truist Financial decreased their target price on shares of The PNC Financial Services Group from $216.00 to $208.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Citigroup lowered their target price on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. JPMorgan Chase & Co. lowered their price objective on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley cut their target price on The PNC Financial Services Group from $188.00 to $179.00 and set an “underweight” rating for the company in a research report on Monday. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and a consensus target price of $203.47.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $25,000. Richardson Financial Services Inc. increased its stake in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $30,000. Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter valued at $32,000. Finally, Synergy Asset Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

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.