Hennion & Walsh Asset Management Inc. Sells 3,538 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Hennion & Walsh Asset Management Inc. lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 24.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,175 shares of the financial services provider’s stock after selling 3,538 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $1,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Steph & Co. grew its holdings in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after buying an additional 67 shares during the last quarter. Bangor Savings Bank boosted its stake in The PNC Financial Services Group by 1.2% during the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 69 shares during the last quarter. Triangle Securities Wealth Management raised its stake in shares of The PNC Financial Services Group by 1.8% in the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 70 shares during the last quarter. Cooper Financial Group lifted its holdings in shares of The PNC Financial Services Group by 1.7% in the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 70 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 1.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock valued at $804,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 2.3 %

Shares of PNC opened at $155.48 on Friday. The PNC Financial Services Group, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $162.24. The business has a 50-day moving average of $155.18 and a 200 day moving average of $152.91. The firm has a market cap of $61.87 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the company earned $3.98 earnings per share. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.99%. The PNC Financial Services Group’s dividend payout ratio is currently 52.06%.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Richard Kevin Bynum sold 850 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PNC shares. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Jefferies Financial Group reduced their target price on shares of The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research note on Wednesday, April 17th. StockNews.com raised shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Bank of America increased their price objective on shares of The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group lifted their target price on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $158.43.

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.