Insider Selling: The PNC Financial Services Group (NYSE:PNC) EVP Sells $858,087.36 in Stock

Key Points

• PNC EVP Stacy Juchno sold 3,354 shares for approximately $858,087 at an average price of $255.84, reducing her ownership by 15.14% to 18,800 shares.
• PNC shares rose 0.6% to $256.84, near their 52-week high, while the bank reported quarterly EPS of $4.85 and revenue of $6.88 billion—both above analyst estimates.
• The company increased its quarterly dividend from $1.70 to $2.00 per share, equating to an annualized dividend of $8.00 and a 3.1% yield; analysts maintain a consensus “Moderate Buy” rating with a $265.73 price target.

The PNC Financial Services Group, Inc (NYSE:PNC - Get Free Report) EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total value of $858,087.36. Following the completion of the transaction, the executive vice president owned 18,800 shares of the company's stock, valued at approximately $4,809,792. This trade represents a 15.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

The PNC Financial Services Group Stock Up 0.6%

NYSE:PNC traded up $1.64 during trading hours on Friday, hitting $256.84. The company's stock had a trading volume of 104,782 shares, compared to its average volume of 2,309,743. The PNC Financial Services Group, Inc has a 52-week low of $176.88 and a 52-week high of $258.13. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $102.46 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 1.01 and a beta of 0.91. The stock has a fifty day moving average of $246.16 and a 200-day moving average of $228.25.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The financial services provider reported $4.85 EPS for the quarter, beating analysts' consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the prior year, the business posted $3.85 EPS. The business's revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities analysts forecast that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, July 20th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.1%. The PNC Financial Services Group's dividend payout ratio is 44.03%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Monetary Solutions Ltd acquired a new stake in shares of The PNC Financial Services Group in the 4th quarter worth $25,000. Quarry LP acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth $25,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 2nd quarter worth $28,000. Modus Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the 4th quarter worth about $29,000. Finally, Financial Life Planners acquired a new stake in The PNC Financial Services Group in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of a number of recent analyst reports. Truist Financial increased their target price on shares of The PNC Financial Services Group from $257.00 to $264.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. UBS Group boosted their target price on The PNC Financial Services Group from $263.00 to $288.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Barclays upped their target price on The PNC Financial Services Group from $277.00 to $284.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada boosted their price objective on The PNC Financial Services Group from $235.00 to $273.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $265.73.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC's core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

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