Wright Investors Service Inc. Has $1.40 Million Stock Holdings in PNC Financial Services Group Inc (NYSE:PNC)

Wright Investors Service Inc. boosted its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,185 shares of the financial services provider’s stock after buying an additional 691 shares during the period. Wright Investors Service Inc.’s holdings in PNC Financial Services Group were worth $1,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FMR LLC raised its holdings in PNC Financial Services Group by 3.8% during the first quarter. FMR LLC now owns 11,267,238 shares of the financial services provider’s stock worth $1,382,040,000 after buying an additional 407,250 shares during the last quarter. Geode Capital Management LLC raised its holdings in PNC Financial Services Group by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock worth $647,356,000 after buying an additional 323,714 shares during the last quarter. American Century Companies Inc. raised its holdings in PNC Financial Services Group by 8.9% during the first quarter. American Century Companies Inc. now owns 4,353,354 shares of the financial services provider’s stock worth $533,982,000 after buying an additional 357,041 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in PNC Financial Services Group by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,981,897 shares of the financial services provider’s stock worth $348,594,000 after buying an additional 41,309 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in PNC Financial Services Group by 8.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,701,775 shares of the financial services provider’s stock worth $331,399,000 after buying an additional 208,959 shares during the last quarter. Hedge funds and other institutional investors own 81.65% of the company’s stock.

PNC has been the topic of several research reports. Morgan Stanley set a $141.00 price objective on shares of PNC Financial Services Group and gave the stock a “hold” rating in a report on Friday, August 9th. ValuEngine lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on shares of PNC Financial Services Group from $137.50 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $143.41.

Shares of NYSE PNC traded down $0.41 during trading on Thursday, hitting $124.21. The stock had a trading volume of 78,823 shares, compared to its average volume of 2,141,141. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $147.00. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $57.28 billion, a P/E ratio of 11.58, a PEG ratio of 1.67 and a beta of 1.07. The company’s fifty day moving average price is $138.28.

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

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Friday, July 19th were paid a $1.15 dividend. This is a positive change from PNC Financial Services Group’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.70%. PNC Financial Services Group’s dividend payout ratio is presently 42.95%.

In related news, insider Karen L. Larrimer sold 7,806 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $142.27, for a total transaction of $1,110,559.62. Following the completion of the transaction, the insider now owns 30,978 shares in the company, valued at $4,407,240.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gregory H. Kozich sold 10,000 shares of the 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 transaction, the insider now owns 20,080 shares of the company’s stock, valued at approximately $2,807,585.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,242 shares of company stock valued at $19,853,468. Company insiders own 0.37% of the company’s stock.

PNC Financial Services Group Company 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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