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

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 24.0% during the 1st quarter, HoldingsChannel reports. The fund owned 11,175 shares of the financial services provider’s stock after selling 3,538 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in The PNC Financial Services Group were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PNC. Tower Research Capital LLC TRC raised its stake in shares of The PNC Financial Services Group by 88.6% in the third quarter. Tower Research Capital LLC TRC now owns 14,217 shares of the financial services provider’s stock worth $1,745,000 after buying an additional 6,678 shares during the period. Ancora Advisors LLC raised its stake in The PNC Financial Services Group by 12.5% during the 3rd quarter. Ancora Advisors LLC now owns 9,009 shares of the financial services provider’s stock worth $1,106,000 after acquiring an additional 1,000 shares during the period. United Services Automobile Association purchased a new position in The PNC Financial Services Group during the third quarter valued at approximately $1,271,000. SRS Capital Advisors Inc. boosted its position in shares of The PNC Financial Services Group by 24.5% in the third quarter. SRS Capital Advisors Inc. now owns 2,458 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 483 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after purchasing an additional 67,490 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the completion of the transaction, the chief executive officer now owns 568,323 shares in the company, valued at approximately $87,061,400.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 approximately $545,856.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the completion of the sale, 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. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Up 2.3 %

NYSE PNC opened at $155.48 on Friday. The stock has a 50 day moving average price of $155.18 and a 200-day moving average price of $152.91. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The company has a market capitalization of $61.87 billion, a P/E ratio of 13.05, a P/E/G 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 issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the company posted $3.98 EPS. The business’s revenue was down 8.2% on a year-over-year basis. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were paid 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 yield of 3.99%. The PNC Financial Services Group’s payout ratio is currently 52.06%.

Analyst Ratings Changes

A number of research firms recently weighed in on PNC. 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 company a “neutral” rating in a research note on Monday, April 1st. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Evercore ISI upped their price objective on The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. Jefferies Financial Group decreased their target price on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 17th. Finally, 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 research note on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $158.43.

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.