The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 254,520 shares of the financial services provider’s stock after selling 2,717 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.06% of The PNC Financial Services Group worth $49,084,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Mechanics Financial Corp purchased a new position in The PNC Financial Services Group during the fourth quarter valued at approximately $541,000. AssuredPartners Investment Advisors LLC purchased a new stake in The PNC Financial Services Group during the fourth quarter worth $739,000. Premier Fund Managers Ltd grew its position in The PNC Financial Services Group by 38.3% during the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider’s stock valued at $9,511,000 after buying an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in The PNC Financial Services Group by 25.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider’s stock valued at $7,739,000 after buying an additional 8,081 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after acquiring an additional 8,735 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $150.63, for a total transaction of $96,553.83. Following the completion of the transaction, the chief executive officer now directly owns 562,932 shares in the company, valued at $84,794,447.16. This trade represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 11,819 shares of company stock worth $2,127,508. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Trading Up 0.3 %

Shares of PNC stock opened at $152.05 on Monday. 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 twelve month low of $145.12 and a twelve month high of $216.26. The company’s 50-day moving average price is $173.63 and its 200-day moving average price is $189.24. The stock has a market cap of $60.17 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Wednesday, April 16th will be given 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 4.21%. The PNC Financial Services Group’s payout ratio is currently 45.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on The PNC Financial Services Group from $195.00 to $185.00 and set an “underperform” rating for the company in a research note on Wednesday, April 16th. Barclays cut their price target on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective 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. The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $200.88.

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.