PNC Financial Services Group Inc (NYSE:PNC) Shares Purchased by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lifted its stake in PNC Financial Services Group Inc (NYSE:PNC) by 3.4% in the 2nd quarter, Holdings Channel reports. The firm owned 73,173 shares of the financial services provider’s stock after purchasing an additional 2,410 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in PNC Financial Services Group were worth $10,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PNC Financial Services Group in the first quarter valued at about $25,000. Field & Main Bank purchased a new position in PNC Financial Services Group during the 1st quarter valued at about $25,000. Penserra Capital Management LLC purchased a new position in PNC Financial Services Group during the 1st quarter valued at about $25,000. IMA Wealth Inc. purchased a new position in PNC Financial Services Group during the 1st quarter valued at about $25,000. Finally, Westside Investment Management Inc. purchased a new position in PNC Financial Services Group during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.

PNC has been the subject of several recent research reports. Barclays raised their target price on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Morgan Stanley dropped their target price on shares of PNC Financial Services Group from $142.00 to $136.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. raised their target price on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, ValuEngine downgraded shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $142.99.

In other news, insider Gregory H. Kozich sold 10,000 shares of PNC Financial Services Group stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $139.82, for a total transaction of $1,398,200.00. Following the completion of the sale, the insider now directly owns 20,080 shares in the company, valued at $2,807,585.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karen L. Larrimer sold 7,806 shares of PNC Financial Services Group stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $142.27, for a total transaction of $1,110,559.62. Following the sale, the insider now owns 30,978 shares of the company’s stock, valued at $4,407,240.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,242 shares of company stock valued at $19,853,468. Insiders own 0.37% of the company’s stock.

Shares of NYSE PNC traded down $0.30 during midday trading on Friday, reaching $137.96. 1,859,437 shares of the stock were exchanged, compared to its average volume of 1,900,364. The stock has a market capitalization of $62.42 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.80 and a beta of 1.07. PNC Financial Services Group Inc has a 52-week low of $108.45 and a 52-week high of $147.00. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $138.72.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.05. The business had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.40 billion. PNC Financial Services Group had a net margin of 25.46% and a return on equity of 11.10%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.72 earnings per share. Research analysts predict that PNC Financial Services Group Inc will post 11.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 19th will be issued a dividend of $1.15 per share. The ex-dividend date is Thursday, July 18th. This is an increase from PNC Financial Services Group’s previous quarterly dividend of $0.95. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.33%. PNC Financial Services Group’s payout ratio is 42.95%.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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