Resonant Capital Advisors LLC Sells 65 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Resonant Capital Advisors LLC cut its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,965 shares of the financial services provider’s stock after selling 65 shares during the period. Resonant Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Loomis Sayles & Co. L P boosted its holdings in The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 50 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of The PNC Financial Services Group by 2.4% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 53 shares during the last quarter. MFA Wealth Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 55 shares during the last quarter. Altman Advisors Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after acquiring an additional 56 shares during the last quarter. Finally, Valley Brook Capital Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.5% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock worth $1,969,000 after acquiring an additional 57 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $208.12, for a total transaction of $258,485.04. Following the transaction, the chief executive officer now owns 536,249 shares of the company’s stock, valued at $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,171 shares of company stock worth $5,786,210 over the last three months. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler lifted their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI lifted their target price on shares of 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. Finally, Keefe, Bruyette & Woods lifted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $205.00.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $200.63 on Monday. 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, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The stock has a market cap of $79.60 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.63 and a beta of 1.16. The firm’s fifty day simple moving average is $199.85 and its 200 day simple moving average is $189.82.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the company earned $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.19%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.