The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $174.78, for a total transaction of $217,076.76. Following the sale, the chief executive officer now owns 564,815 shares of the company's stock, valued at $98,718,365.70. The trade was a 0.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
The PNC Financial Services Group Stock Down 5.2 %
Shares of PNC traded down $8.44 during mid-day trading on Friday, hitting $152.85. 4,147,372 shares of the company traded hands, compared to its average volume of 1,905,861. The company has a market capitalization of $60.49 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The business has a 50 day moving average of $184.93 and a 200 day moving average of $191.73.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the previous year, the firm posted $3.16 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.
The PNC Financial Services Group Dividend Announcement
The company 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 $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is presently 46.55%.
Wall Street Analyst Weigh In
PNC has been the topic of several research reports. HSBC upgraded The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $206.00 to $202.00 in a report on Monday, March 31st. Wells Fargo & Company decreased their price objective on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Truist Financial cut 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. Finally, Barclays upped their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Two equities 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. According to MarketBeat.com, The PNC Financial Services Group has an average rating of "Hold" and a consensus price target of $205.18.
Check Out Our Latest Stock Analysis on PNC
Institutional Investors Weigh In On The PNC Financial Services Group
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock valued at $7,273,794,000 after acquiring an additional 268,827 shares during the period. State Street Corp raised its holdings in shares of The PNC Financial Services Group by 0.6% during the third quarter. State Street Corp now owns 17,299,381 shares of the financial services provider's stock worth $3,197,791,000 after purchasing an additional 100,573 shares during the last quarter. Franklin Resources Inc. lifted its position in The PNC Financial Services Group by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock valued at $2,089,622,000 after purchasing an additional 549,278 shares during the period. Geode Capital Management LLC grew its position in The PNC Financial Services Group by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 8,367,424 shares of the financial services provider's stock worth $1,541,155,000 after purchasing an additional 166,138 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after buying an additional 726,115 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.
About The PNC Financial Services Group
(
Get Free Report)
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.
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