Hennion & Walsh Asset Management Inc. Sells 3,821 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Hennion & Walsh Asset Management Inc. reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 30.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,686 shares of the financial services provider's stock after selling 3,821 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $1,606,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in The PNC Financial Services Group in the 2nd quarter worth about $26,000. ORG Partners LLC grew its stake in 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 valued at $26,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter worth about $28,000. Palisade Asset Management LLC bought a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $29,000. Finally, Y.D. More Investments Ltd purchased a new stake in The PNC Financial Services Group during the second quarter valued at $33,000. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In other news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the sale, the president now directly owns 199,095 shares in the company, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $170.11, for a total value of $211,276.62. Following the transaction, the chief executive officer now directly owns 558,427 shares in the company, valued at $94,994,016.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,279 shares of company stock worth $4,395,540 in the last 90 days. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Price Performance

PNC stock traded down $3.12 during trading on Friday, hitting $185.82. The company had a trading volume of 1,319,036 shares, compared to its average volume of 1,863,221. The PNC Financial Services Group, Inc. has a fifty-two week low of $110.79 and a fifty-two week high of $196.64. 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 firm has a market capitalization of $73.94 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.98 and a beta of 1.14. The business has a 50 day moving average of $182.56 and a 200 day moving average of $168.19.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, beating analysts' consensus estimates of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the company posted $3.60 EPS. The PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 13.34 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

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

Analysts Set New Price Targets

PNC has been the topic of a number of research analyst reports. Bank of America upgraded shares of The PNC Financial Services Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. UBS Group boosted their price objective on shares of The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a "buy" rating in a research note on Wednesday, July 17th. Wells Fargo & Company increased their price target on The PNC Financial Services Group from $204.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Stephens lifted their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Hold" and a consensus price target of $185.71.

The PNC Financial Services Group 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.