Hartford Investment Management Co. Sells 437 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Hartford Investment Management Co. lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,019 shares of the financial services provider’s stock after selling 437 shares during the period. Hartford Investment Management Co.’s holdings in The PNC Financial Services Group were worth $4,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PNC. Bank & Trust Co acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at about $26,000. ORG Partners LLC increased its holdings in The PNC Financial Services Group by 203.7% in the second quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the first quarter valued at approximately $28,000. Palisade Asset Management LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $29,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $33,000. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction dated 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 directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Michael P. Lyons sold 11,000 shares of The PNC Financial Services Group stock in a transaction that occurred 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 sale, the president now owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $190.57, for a total value of $236,687.94. Following the transaction, the chief executive officer now directly owns 546,007 shares of the company’s stock, valued at approximately $104,052,553.99. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,662 shares of company stock worth $4,459,819. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of several research analyst reports. Morgan Stanley increased their target price on shares of 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. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 22nd. Royal Bank of Canada raised their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Citigroup upped their target price on The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.71.

The PNC Financial Services Group Trading Up 1.0 %

NYSE:PNC opened at $188.21 on Thursday. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $196.64. The firm has a 50-day moving average price of $181.96 and a two-hundred day moving average price of $167.82. The firm has a market cap of $74.81 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.82 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 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 business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company posted $3.60 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that The PNC Financial Services Group, Inc. will post 13.3 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.40%. The PNC Financial Services Group’s payout ratio is currently 54.10%.

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.