Hennion & Walsh Asset Management Inc. Trims Stock Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Hennion & Walsh Asset Management Inc. lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 30.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,686 shares of the financial services provider’s stock after selling 3,821 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brookstone Capital Management lifted its stake in shares of The PNC Financial Services Group by 4.3% in the 1st quarter. Brookstone Capital Management now owns 12,650 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 519 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in The PNC Financial Services Group by 1.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock worth $804,000 after buying an additional 74 shares during the period. Vicus Capital acquired a new stake in shares of The PNC Financial Services Group during the first quarter valued at about $300,000. Breakwater Capital Group raised its stake in shares of The PNC Financial Services Group by 4.3% in the 1st quarter. Breakwater Capital Group now owns 3,963 shares of the financial services provider’s stock valued at $640,000 after acquiring an additional 162 shares during the period. Finally, LVW Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 29.6% in the 1st quarter. LVW Advisors LLC now owns 5,890 shares of the financial services provider’s stock worth $952,000 after acquiring an additional 1,346 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the transaction, the director now owns 915 shares in the company, valued at $170,299.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total value of $159,877.08. Following the completion of the sale, the director now directly owns 915 shares of the company’s stock, valued at $170,299.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now owns 558,427 shares in the company, valued at $94,994,016.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,279 shares of company stock worth $4,395,540 in the last ninety days. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Down 1.7 %

Shares of NYSE PNC opened at $185.82 on Friday. The business has a 50-day moving average of $182.56 and a two-hundred day moving average of $168.14. The company has a market capitalization of $73.94 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 1 year low of $110.79 and a 1 year high of $196.64. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.60 earnings per share. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 53.74%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group increased their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America upgraded shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Finally, Citigroup lifted 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 report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $185.71.

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.