William S. Demchak Sells 1,242 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) 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 dated Friday, December 20th. The stock was sold at an average price of $189.29, for a total transaction of $235,098.18. Following the sale, the chief executive officer now directly owns 530,039 shares in the company, valued at $100,331,082.31. The trade was a 0.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

The PNC Financial Services Group Trading Down 0.8 %

Shares of NYSE:PNC opened at $193.28 on Friday. The stock’s 50-day simple moving average is $200.36 and its two-hundred day simple moving average is $182.72. The stock has a market capitalization of $76.69 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.11 and a beta of 1.15. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26. The company has a debt-to-equity ratio of 1.22, 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 data 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 PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $3.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date of this dividend 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 is currently 54.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Compass Point boosted their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Stephens increased their target price on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Piper Sandler lifted their price target 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. Citigroup increased their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Evercore ISI lifted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two research 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. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $200.81.

Hedge Funds Weigh In On The PNC Financial Services Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Y.D. More Investments Ltd purchased a new position in shares of The PNC Financial Services Group during the 2nd quarter valued at about $33,000. Valley Wealth Managers Inc. raised its stake in The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares during the period. Quarry LP lifted its holdings in 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 in the last quarter. Capital Performance Advisors LLP bought a new position in shares of The PNC Financial Services Group in the third quarter worth approximately $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased 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 worth $58,000 after purchasing an additional 220 shares in the last quarter. 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.