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

Hennion & Walsh Asset Management Inc. boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,197 shares of the financial services provider's stock after acquiring an additional 1,511 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $1,966,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Winch Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group during the 4th quarter worth about $25,000. Valley Wealth Managers Inc. raised its holdings in The PNC Financial Services Group by 20,000.0% during the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Quarry LP lifted its position in shares of The PNC Financial Services Group by 141.7% during the 2nd quarter. Quarry LP now owns 290 shares of the financial services provider's stock worth $45,000 after buying an additional 170 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in The PNC Financial Services Group in the third quarter valued at $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in The PNC Financial Services Group by 231.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 315 shares of the financial services provider's stock valued at $58,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $189.50, for a total value of $235,359.00. Following the completion of the transaction, the chief executive officer now directly owns 543,523 shares in the company, valued at approximately $102,997,608.50. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the 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 transaction, the director now owns 915 shares in the company, valued at $170,299.80. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,030 shares of company stock valued at $5,928,202. 0.42% of the stock is owned by insiders.

The PNC Financial Services Group Price Performance

Shares of PNC stock traded up $1.82 during trading hours on Friday, hitting $198.36. The company's stock had a trading volume of 4,465,710 shares, compared to its average volume of 1,593,872. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The business has a fifty day moving average of $201.40 and a 200-day moving average of $187.03. The PNC Financial Services Group, Inc. has a twelve month low of $139.69 and a twelve month high of $216.26. The stock has a market cap of $78.71 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.77 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating analysts' consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.57 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The PNC Financial Services Group's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Wednesday, January 15th. The PNC Financial Services Group's dividend payout ratio is presently 54.10%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PNC. Truist Financial boosted their target price on The PNC Financial Services Group from $215.00 to $216.00 and gave the company a "hold" rating in a report on Friday. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Morgan Stanley upped their price objective on The PNC Financial Services Group from $199.00 to $208.00 and gave the company an "underweight" rating in a research note on Friday. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, November 25th. Finally, Keefe, Bruyette & Woods boosted their target price on The PNC Financial Services Group from $180.00 to $182.00 and gave the company an "underperform" rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $205.00.

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.