ZWJ Investment Counsel Inc. Lowers Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

ZWJ Investment Counsel Inc. reduced its position in The PNC Financial Services Group, Inc. (NYSE:PNCFree Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,835 shares of the financial services provider’s stock after selling 260 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in The PNC Financial Services Group were worth $1,125,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PNC. Loomis Sayles & Co. L P lifted its holdings in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 624 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 50 shares during the last quarter. MFA Wealth Advisors LLC boosted its position in The PNC Financial Services Group by 5.4% during the third quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider’s stock valued at $200,000 after buying an additional 55 shares during the period. Resonant Capital Advisors LLC grew its stake in shares of The PNC Financial Services Group by 0.3% during the third quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider’s stock valued at $3,148,000 after buying an additional 56 shares during the last quarter. Altman Advisors Inc. increased its holdings in shares of The PNC Financial Services Group by 0.5% in the third quarter. Altman Advisors Inc. now owns 10,506 shares of the financial services provider’s stock worth $1,942,000 after buying an additional 56 shares during the period. Finally, Valley Brook Capital Group Inc. lifted its stake in shares of The PNC Financial Services Group by 0.5% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider’s stock valued at $1,969,000 after acquiring an additional 57 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $190.27, for a total transaction of $236,315.34. Following the completion of the sale, the chief executive officer now owns 544,765 shares of the company’s stock, valued at $103,652,436.55. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,171 shares of company stock worth $5,768,325. 0.42% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on PNC. Barclays lifted their price target on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Morgan Stanley raised their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Hold” and a consensus target price of $205.00.

Read Our Latest Stock Report on The PNC Financial Services Group

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $198.36 on Tuesday. The company has a market cap of $78.71 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.85 and a beta of 1.16. The business’s fifty day simple moving average is $201.40 and its two-hundred day simple moving average is $187.43. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period last year, the firm posted $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.03 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.23%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

About The PNC Financial Services Group

(Free Report)

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.

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

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