Resonant Capital Advisors LLC Trims Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Resonant Capital Advisors LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,653 shares of the financial services provider’s stock after selling 2,246 shares during the quarter. Resonant Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $2,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. OFI Invest Asset Management bought a new position in The PNC Financial Services Group during the third quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $26,000. Tennessee Valley Asset Management Partners bought a new stake in shares of The PNC Financial Services Group in the 4th quarter valued at about $26,000. Fortitude Family Office LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $28,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its position in The PNC Financial Services Group by 350.0% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of the transaction, the executive vice president now owns 36,570 shares in the company, valued at $5,442,347.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent analyst reports. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. Bank of America upped their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group raised their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. The Goldman Sachs Group upped their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Finally, StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $156.63.

The PNC Financial Services Group Stock Up 2.4 %

PNC stock traded up $3.48 on Friday, reaching $151.37. 1,655,651 shares of the company traded hands, compared to its average volume of 2,137,783. The firm has a fifty day simple moving average of $151.80 and a 200-day simple moving average of $141.72. The company has a market cap of $60.22 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.18. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.84.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the company earned $3.98 earnings per share. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 12.47 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.10%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

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.