Insider Selling: The PNC Financial Services Group, Inc. (NYSE:PNC) CEO Sells $240,476.04 in Stock

The PNC Financial Services Group, Inc. (NYSE:PNC) CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $193.62, for a total transaction of $240,476.04. Following the transaction, the chief executive officer now directly owns 528,797 shares of the company’s stock, valued at $102,385,675.14. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

The PNC Financial Services Group Trading Up 0.2 %

Shares of PNC opened at $192.85 on Thursday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $76.52 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.11 and a beta of 1.15. The stock has a fifty day moving average price of $200.73 and a two-hundred day moving average price of $183.80. The PNC Financial Services Group, Inc. has a 52-week low of $139.69 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business posted $3.60 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts predict that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore ISI raised their price objective on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup raised their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Wells Fargo & Company boosted their price target on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley raised their price objective on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a report on Wednesday, October 16th. Finally, Piper Sandler upped their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $200.81.

Hedge Funds Weigh In On The PNC Financial Services Group

Large investors have recently modified their holdings of the stock. Fidelity D & D Bancorp Inc. raised its position in The PNC Financial Services Group by 1.4% in the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 9,708 shares of the financial services provider’s stock worth $1,795,000 after purchasing an additional 138 shares during the last quarter. Franklin Resources Inc. raised its position in shares of The PNC Financial Services Group by 1.2% during the third quarter. Franklin Resources Inc. now owns 10,286,202 shares of the financial services provider’s stock worth $1,939,154,000 after acquiring an additional 123,994 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of The PNC Financial Services Group by 3.7% during the third quarter. Synovus Financial Corp now owns 14,232 shares of the financial services provider’s stock valued at $2,631,000 after acquiring an additional 509 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in The PNC Financial Services Group by 86.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 34,446 shares of the financial services provider’s stock valued at $6,367,000 after acquiring an additional 15,962 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in The PNC Financial Services Group by 3.8% in the third quarter. Sanctuary Advisors LLC now owns 97,908 shares of the financial services provider’s stock worth $18,098,000 after purchasing an additional 3,595 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Company Profile

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.