Smithbridge Asset Management Inc. DE Has $1.01 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Smithbridge Asset Management Inc. DE grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 75.7% in the third quarter, HoldingsChannel reports. The fund owned 5,470 shares of the financial services provider’s stock after buying an additional 2,356 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in The PNC Financial Services Group were worth $1,011,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PNC. Vicus Capital acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $300,000. Hexagon Capital Partners LLC lifted its position in shares of The PNC Financial Services Group by 8.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,738 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 133 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of The PNC Financial Services Group by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 940,225 shares of the financial services provider’s stock worth $151,940,000 after purchasing an additional 5,785 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of The PNC Financial Services Group by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 43,183 shares of the financial services provider’s stock worth $6,978,000 after purchasing an additional 165 shares during the period. Finally, Leeward Financial Partners LLC raised its stake in The PNC Financial Services Group by 46.2% in the first quarter. Leeward Financial Partners LLC now owns 22,678 shares of the financial services provider’s stock valued at $3,665,000 after purchasing an additional 7,171 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now owns 199,095 shares in the company, valued at $36,151,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total transaction of $1,997,380.00. Following the completion of the sale, the president now owns 199,095 shares of the company’s stock, valued at $36,151,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Martin Pfinsgraff sold 859 shares of the business’s stock in a transaction that occurred 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 directly owns 915 shares in the company, valued at approximately $170,299.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,279 shares of company stock valued at $4,395,540. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Trading Up 1.1 %

NYSE PNC traded up $2.13 on Monday, reaching $187.95. The company had a trading volume of 49,637 shares, compared to its average volume of 1,854,659. The firm has a market cap of $74.79 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.98 and a beta of 1.14. 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, Inc. has a fifty-two week low of $111.08 and a fifty-two week high of $196.64. The business has a 50 day moving average of $182.56 and a two-hundred day moving average of $168.28.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $3.60 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts forecast that The PNC Financial Services Group, Inc. will post 13.34 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th will be given a $1.60 dividend. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Analyst Ratings Changes

Several brokerages have recently commented on PNC. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group cut their target price on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company lifted 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. Royal Bank of Canada upped their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley boosted their target price on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $185.71.

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.