The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lowered its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 5.1% during the fourth quarter, Holdings Channel reports. The firm owned 5,816 shares of the financial services provider’s stock after selling 314 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in The PNC Financial Services Group were worth $901,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in The PNC Financial Services Group during the third quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at approximately $26,000. Tennessee Valley Asset Management Partners purchased a new position in shares of The PNC Financial Services Group during the fourth quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in The PNC Financial Services Group by 350.0% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 3.0 %

Shares of NYSE PNC traded up $4.41 during midday trading on Friday, reaching $152.30. 2,370,097 shares of the stock were exchanged, compared to its average volume of 1,588,026. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $60.59 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.67 and a beta of 1.18. The stock has a 50 day moving average price of $151.89 and a 200-day moving average price of $141.95. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $3.98 EPS. The PNC Financial Services Group’s revenue was down 8.2% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc. will post 12.62 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, May 5th. Shareholders of record on Monday, April 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Friday, April 12th. The PNC Financial Services Group’s payout ratio is 52.06%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. HSBC raised shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Evercore ISI dropped their price target on The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday. Morgan Stanley increased their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 30th. UBS Group boosted their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Finally, Bank of America increased their price target on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of “Hold” and an average target price of $156.63.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael J. Hannon sold 3,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $148.82, for a total transaction of $446,460.00. Following the transaction, the executive vice president now directly owns 36,570 shares in the company, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by company insiders.

About The PNC Financial Services Group

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.