The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak Sells 1,242 Shares

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $163.16, for a total transaction of $202,644.72. Following the transaction, the chief executive officer now owns 558,605 shares of the company’s stock, valued at $91,141,991.80. This represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

The PNC Financial Services Group Stock Up 0.2 %

PNC stock opened at $163.87 on Thursday. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The stock has a fifty day moving average of $165.47 and a 200-day moving average of $186.85. The company has a market capitalization of $64.85 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.55 and a beta of 1.06. 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 PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. As a group, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.91%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is 45.20%.

Hedge Funds Weigh In On The PNC Financial Services Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baltimore Washington Financial Advisors Inc. increased its position in shares of The PNC Financial Services Group by 3.1% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of The PNC Financial Services Group by 2.4% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after buying an additional 53 shares during the last quarter. Transcend Capital Advisors LLC raised its position in shares of The PNC Financial Services Group by 1.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock valued at $616,000 after buying an additional 55 shares in the last quarter. Valmark Advisers Inc. grew its position in The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock worth $773,000 after acquiring an additional 56 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its stake in The PNC Financial Services Group by 2.1% in the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 58 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNC has been the subject of a number of analyst reports. Stephens reiterated an “equal weight” rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Wells Fargo & Company decreased their price target 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. Morgan Stanley dropped their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Finally, Truist Financial decreased their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $200.88.

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.