Kayne Anderson Rudnick Investment Management LLC Trims Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Kayne Anderson Rudnick Investment Management LLC lowered its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 about 0.06% of The PNC Financial Services Group worth $49,084,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PNC. Winch Advisory Services LLC bought a new stake in The PNC Financial Services Group during the fourth quarter worth $25,000. Richardson Financial Services Inc. increased its stake in shares of The PNC Financial Services Group by 2,333.3% during the 4th quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Albion Financial Group UT bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group during the 4th quarter valued at $32,000. Finally, Rialto Wealth Management LLC bought a new position in shares of The PNC Financial Services Group during the 4th quarter worth $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNC. HSBC upgraded shares of The PNC Financial Services Group from a "hold" rating to a "buy" rating and reduced their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Citigroup decreased their price objective on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. The Goldman Sachs Group cut their target price on 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. Barclays decreased their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their price objective 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 note on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Hold" and a consensus target price of $200.88.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,202 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $160.00, for a total transaction of $192,320.00. Following the transaction, the chief executive officer now owns 561,089 shares in the company, valued at approximately $89,774,240. This represents a 0.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 12,420 shares of company stock valued at $2,172,655 over the last three months. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Down 0.8 %

NYSE:PNC traded down $1.26 during mid-day trading on Friday, reaching $158.49. 1,125,112 shares of the company's stock traded hands, compared to its average volume of 1,995,158. The PNC Financial Services Group, Inc. has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day moving average price of $169.74 and a 200-day moving average price of $188.25. The firm has a market capitalization of $62.72 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.55 and a beta of 1.04.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. On average, sell-side 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 declared 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. This represents a $6.40 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is currently 45.20%.

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.