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 - Get Free Report) CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $190.18, for a total transaction of $236,203.56. Following the transaction, the chief executive officer now directly owns 569,783 shares of the company's stock, valued at $108,361,330.94. This represents a 0.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Price Performance

Shares of PNC traded down $2.66 during mid-day trading on Monday, hitting $189.26. 1,338,011 shares of the company traded hands, compared to its average volume of 2,132,930. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average of $195.34 and a 200 day moving average of $192.78. The stock has a market capitalization of $74.90 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.55 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS 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 business had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the prior year, the firm earned $3.16 earnings per share. The PNC Financial Services Group's revenue was up 3.8% compared to the same quarter last year. As a group, equities 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.38%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.55%.

Institutional Trading of The PNC Financial Services Group

Several hedge funds have recently modified their holdings of PNC. Winch Advisory Services LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. boosted its stake in The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC bought a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $32,000. 83.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on PNC shares. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research report on Friday, January 17th. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Compass Point increased their price target on shares of 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. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Finally, Stephens reissued an "equal weight" rating and issued a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $205.00.

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.