Zevin Asset Management LLC Takes Position in PNC Financial Services Group, Inc. (The) (PNC)

Zevin Asset Management LLC bought a new position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 18,709 shares of the financial services provider’s stock, valued at approximately $2,521,000.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in PNC Financial Services Group, Inc. (The) by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 32,555,070 shares of the financial services provider’s stock worth $4,065,151,000 after acquiring an additional 589,235 shares during the last quarter. BlackRock Inc. raised its stake in PNC Financial Services Group, Inc. (The) by 1.3% in the 2nd quarter. BlackRock Inc. now owns 27,475,136 shares of the financial services provider’s stock worth $3,430,820,000 after acquiring an additional 341,222 shares during the last quarter. FMR LLC raised its stake in PNC Financial Services Group, Inc. (The) by 13.9% in the 2nd quarter. FMR LLC now owns 15,676,614 shares of the financial services provider’s stock worth $1,957,539,000 after acquiring an additional 1,915,923 shares during the last quarter. JPMorgan Chase & Co. raised its stake in PNC Financial Services Group, Inc. (The) by 7.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock worth $1,592,394,000 after acquiring an additional 875,164 shares during the last quarter. Finally, Capital World Investors raised its stake in PNC Financial Services Group, Inc. (The) by 6.9% in the 2nd quarter. Capital World Investors now owns 10,112,603 shares of the financial services provider’s stock worth $1,262,761,000 after acquiring an additional 654,997 shares during the last quarter. Institutional investors own 80.79% of the company’s stock.

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A number of equities analysts recently issued reports on the company. Nomura raised their target price on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a “neutral” rating in a research note on Monday, July 17th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $129.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, July 14th. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. J P Morgan Chase & Co raised their target price on PNC Financial Services Group, Inc. (The) from $139.50 to $140.50 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Deutsche Bank AG restated a “buy” rating and issued a $130.00 target price (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $133.99.

Shares of PNC Financial Services Group, Inc. (PNC) traded up 0.68% during trading on Wednesday, hitting $137.72. The company had a trading volume of 365,011 shares. The firm has a market capitalization of $65.55 billion, a P/E ratio of 16.84 and a beta of 0.95. PNC Financial Services Group, Inc. has a 52-week low of $94.30 and a 52-week high of $139.23. The stock’s 50-day moving average is $134.18 and its 200 day moving average is $126.70.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.03. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.09 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.61% and a return on equity of 9.29%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. Equities research analysts predict that PNC Financial Services Group, Inc. will post $8.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, October 16th. This represents a $3.00 annualized dividend and a yield of 2.19%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.63%.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.43% of the company’s stock.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

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

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