William S. Demchak Sells 641 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC) Stock

The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $155.27, for a total transaction of $99,528.07. Following the transaction, the chief executive officer now directly owns 564,174 shares in the company, valued at $87,599,296.98. This trade represents a 0.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

The PNC Financial Services Group Stock Down 0.4 %

Shares of PNC traded down $0.59 during midday trading on Friday, hitting $151.57. The company had a trading volume of 3,850,177 shares, compared to its average volume of 1,968,566. The PNC Financial Services Group, Inc. has a 1 year low of $143.52 and a 1 year high of $216.26. The firm has a market capitalization of $59.98 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.55 and a beta of 1.04. 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 company's 50-day simple moving average is $178.30 and its 200-day simple moving average is $190.17.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping 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 analysts' expectations of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 EPS. The firm's revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

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The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Compton Financial Group LLC lifted its stake in The PNC Financial Services Group by 219.8% during the first quarter. Compton Financial Group LLC now owns 3,611 shares of the financial services provider's stock worth $635,000 after purchasing an additional 2,482 shares during the last quarter. Gateway Investment Advisers LLC lifted its position in shares of The PNC Financial Services Group by 9.7% during the 1st quarter. Gateway Investment Advisers LLC now owns 2,675 shares of the financial services provider's stock worth $470,000 after buying an additional 237 shares during the last quarter. Pines Wealth Management LLC boosted its holdings in shares of The PNC Financial Services Group by 5.0% in the 1st quarter. Pines Wealth Management LLC now owns 6,987 shares of the financial services provider's stock valued at $1,228,000 after buying an additional 332 shares in the last quarter. Vest Financial LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $8,846,000. Finally, Breakwater Capital Group lifted its position in The PNC Financial Services Group by 14.7% in the first quarter. Breakwater Capital Group now owns 4,683 shares of the financial services provider's stock valued at $823,000 after acquiring an additional 599 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PNC. Citigroup reduced their price target 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 report on Monday, March 24th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and decreased their price target for the company from $206.00 to $202.00 in a research note on Monday, March 31st. The Goldman Sachs Group cut their price objective on The PNC Financial Services Group from $211.00 to $188.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. 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 report on Friday, April 4th. Finally, Morgan Stanley dropped their price target on shares of 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, April 7th. Two 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 MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $203.47.

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.