Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells 641 Shares of Stock

The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) CEO William S. Demchak sold 641 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $150.50, for a total value of $96,470.50. Following the completion of the sale, the chief executive officer now directly owns 562,291 shares of the company's stock, valued at $84,624,795.50. The trade was a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

The PNC Financial Services Group Trading Down 0.8 %

Shares of NYSE:PNC traded down $1.26 during trading on Friday, reaching $158.49. 1,125,112 shares of the company traded hands, compared to its average volume of 1,999,239. 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 PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The firm has a market capitalization of $62.72 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.55 and a beta of 1.04. The business's fifty day moving average is $169.74 and its 200-day moving average is $188.28.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating 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 business had revenue of $5.45 billion during the quarter, compared to analysts' expectations of $5.50 billion. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.04%. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays cut their target price on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Truist Financial reduced their price objective on 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. Wells Fargo & Company lowered their target price on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Morgan Stanley decreased their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Finally, Hsbc Global Res raised shares of The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $200.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PNC. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $25,000. Richardson Financial Services Inc. lifted its stake in shares of The PNC Financial Services Group by 2,333.3% in the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT purchased a new stake in The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC bought a new position in The PNC Financial Services Group in the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Institutional investors own 83.53% of the company's stock.

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.