Resources Management Corp CT ADV Has $4.92 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Resources Management Corp CT ADV reduced its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,663 shares of the financial services provider’s stock after selling 534 shares during the period. Resources Management Corp CT ADV’s holdings in The PNC Financial Services Group were worth $4,923,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PNC. Bank & Trust Co acquired a new position in The PNC Financial Services Group during the 2nd quarter worth approximately $26,000. ORG Partners LLC raised its position in shares of The PNC Financial Services Group by 203.7% during the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares during the period. LRI Investments LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth $28,000. Palisade Asset Management LLC bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth $29,000. Finally, Core Wealth Advisors Inc. acquired a new stake in The PNC Financial Services Group in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the transaction, the chief executive officer now owns 567,041 shares in the company, valued at $89,649,182.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction on Friday, July 5th. The stock was sold at an average price of $158.10, for a total value of $101,342.10. Following the completion of the transaction, the chief executive officer now directly owns 567,041 shares in the company, valued at $89,649,182.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total value of $231,570.90. Following the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at approximately $102,729,288.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,864 shares of company stock worth $4,551,485. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Down 0.7 %

PNC opened at $185.09 on Tuesday. The company’s 50-day moving average price is $177.43 and its two-hundred day moving average price is $163.29. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78. The stock has a market cap of $73.65 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 2.00 and a beta of 1.14.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company earned $3.36 earnings per share. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.1 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 15th were issued a $1.60 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $6.40 annualized dividend and a yield of 3.46%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup raised their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. UBS Group raised their price target on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Finally, Royal Bank of Canada lifted their target price on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and an average target price of $176.90.

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.