ZWJ Investment Counsel Inc. Decreases Stock Position in PNC Financial Services Group Inc (NYSE:PNC)

ZWJ Investment Counsel Inc. cut its position in PNC Financial Services Group Inc (NYSE:PNC) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,159 shares of the financial services provider’s stock after selling 5,014 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in PNC Financial Services Group were worth $9,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Westside Investment Management Inc. acquired a new stake in PNC Financial Services Group in the second quarter valued at $29,000. Redhawk Wealth Advisors Inc. acquired a new stake in PNC Financial Services Group in the second quarter valued at $40,000. Old North State Trust LLC raised its holdings in PNC Financial Services Group by 108.8% in the third quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 160 shares in the last quarter. Smith Asset Management Group LP raised its holdings in PNC Financial Services Group by 508.5% in the second quarter. Smith Asset Management Group LP now owns 359 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares in the last quarter. Finally, Prestige Wealth Management Group LLC acquired a new stake in PNC Financial Services Group in the second quarter valued at $55,000. Institutional investors and hedge funds own 80.82% of the company’s stock.

In other news, EVP Joseph E. Rockey sold 10,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $145.00, for a total transaction of $1,450,000.00. Following the completion of the transaction, the executive vice president now owns 18,453 shares in the company, valued at $2,675,685. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stacy M. Juchno sold 710 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $141.90, for a total transaction of $100,749.00. Following the completion of the transaction, the executive vice president now owns 4,583 shares of the company’s stock, valued at approximately $650,327.70. The disclosure for this sale can be found here. Insiders have sold 39,089 shares of company stock valued at $5,472,343 in the last 90 days. Insiders own 0.37% of the company’s stock.

Shares of PNC Financial Services Group stock traded up $0.50 during trading on Wednesday, hitting $145.96. 612,605 shares of the stock were exchanged, compared to its average volume of 1,854,733. The stock’s fifty day moving average is $138.84 and its 200 day moving average is $134.94. The stock has a market cap of $64.80 billion, a PE ratio of 13.63, a P/E/G ratio of 1.76 and a beta of 1.13. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.89. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $146.88.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.80 by $0.14. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.41 billion. PNC Financial Services Group had a net margin of 24.96% and a return on equity of 10.94%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.82 earnings per share. Sell-side analysts anticipate that PNC Financial Services Group Inc will post 11.32 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Thursday, October 17th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $4.60 annualized dividend and a dividend yield of 3.15%. PNC Financial Services Group’s dividend payout ratio is currently 42.95%.

Several analysts recently issued reports on PNC shares. ValuEngine cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 15th. Zacks Investment Research cut shares of PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price target on the stock. in a report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target 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. UBS Group upped their price target on shares of PNC Financial Services Group from $142.00 to $146.00 and gave the company a “neutral” rating in a report on Monday. Finally, Wells Fargo & Co increased their target price on shares of PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $143.74.

About PNC Financial Services Group

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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