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 firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now owns 530,039 shares in the company, valued at $100,331,082.31. This trade represents a 0.23 % 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 the SEC website.

The PNC Financial Services Group Stock Performance

PNC opened at $194.77 on Friday. The PNC Financial Services Group, Inc. has a 1-year low of $139.69 and a 1-year high of $216.26. The company has a market capitalization of $77.28 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 2.11 and a beta of 1.15. The business has a 50 day moving average price of $200.29 and a two-hundred day moving average price of $182.44. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the business posted $3.60 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.29%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Institutional Trading of The PNC Financial Services Group

A number of large investors have recently added to or reduced their stakes in PNC. Valley Wealth Managers Inc. lifted its position in shares of 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 valued at $37,000 after acquiring an additional 200 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group during the second quarter valued at $33,000. Capital Performance Advisors LLP acquired a new position in shares of The PNC Financial Services Group in the 3rd quarter valued at $51,000. Quarry LP increased its stake in The PNC Financial Services Group by 141.7% in the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 170 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in The PNC Financial Services Group by 231.6% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider’s stock valued at $58,000 after buying an additional 220 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PNC has been the subject of several research reports. The Goldman Sachs Group lifted 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. Stephens raised their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Compass Point upped their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised their target price on 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. Finally, Piper Sandler upped their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $200.81.

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.