Resonant Capital Advisors LLC Raises Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Resonant Capital Advisors LLC raised its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 1.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 17,238 shares of the financial services provider’s stock after purchasing an additional 273 shares during the period. Resonant Capital Advisors LLC’s holdings in The PNC Financial Services Group were worth $3,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of The PNC Financial Services Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after buying an additional 268,827 shares during the last quarter. Franklin Resources Inc. boosted its holdings in The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after acquiring an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock valued at $1,453,763,000 after acquiring an additional 726,115 shares in the last quarter. Norges Bank purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth about $1,352,151,000. Finally, Northern Trust Corp grew its position in The PNC Financial Services Group by 14.9% during the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock valued at $905,530,000 after purchasing an additional 608,375 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Martin Pfinsgraff purchased 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the transaction, the director owned 2,009 shares in the company, valued at approximately $317,863.98. This trade represents a 99.11% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $166.79, for a total value of $207,153.18. Following the completion of the sale, the chief executive officer directly owned 557,363 shares of the company’s stock, valued at $92,962,574.77. The trade was a 0.22% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,428 shares of company stock worth $1,882,322. 0.41% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Up 1.7%

NYSE:PNC opened at $195.70 on Thursday. The company has a 50-day moving average of $174.39 and a 200 day moving average of $180.13. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $77.41 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.50 billion. As a group, research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 31st. Morgan Stanley dropped their price objective on The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. dropped 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. Finally, Barclays dropped their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average rating of “Moderate Buy” and a consensus target price of $204.00.

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.