The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $150.63, for a total value of $96,553.83. Following the transaction, the chief executive officer now directly owns 562,932 shares in the company, valued at approximately $84,794,447.16. This trade represents a 0.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
The PNC Financial Services Group Price Performance
Shares of PNC stock opened at $154.91 on Tuesday. The PNC Financial Services Group, Inc. has a 12-month low of $143.52 and a 12-month high of $216.26. The firm has a fifty day moving average of $177.42 and a 200-day moving average of $190.02. The firm has a market capitalization of $61.31 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts' consensus estimates of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.16 EPS. On average, equities research analysts forecast 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 will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid 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 dividend yield of 4.13%. The PNC Financial Services Group's dividend payout ratio is 46.55%.
Analysts Set New Price Targets
A number of research firms recently issued reports on PNC. Morgan Stanley reduced their price objective on The PNC Financial Services Group from $188.00 to $179.00 and set an "underweight" rating for the company in a research report on Monday, April 7th. Truist Financial cut their price target on The PNC Financial Services Group from $216.00 to $208.00 and set a "hold" rating for the company in a report on Friday, April 4th. JPMorgan Chase & Co. lowered their price target on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Citigroup cut their price target on shares of The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Stephens restated an "equal weight" rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Hold" and a consensus price target of $203.47.
Check Out Our Latest Report on PNC
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Winch Advisory Services LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. increased its stake in The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after acquiring an additional 140 shares during the period. Albion Financial Group UT acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $30,000. Synergy Asset Management LLC bought a new stake in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. 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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