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

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

Several other large investors have also recently modified their holdings of the company. Brightworth raised its position in shares of PNC Financial Services Group by 4.1% in the 2nd quarter. Brightworth now owns 1,784 shares of the financial services provider’s stock valued at $245,000 after buying an additional 70 shares in the last quarter. Holistic Financial Partners grew its holdings in shares of PNC Financial Services Group by 3.9% during the 1st quarter. Holistic Financial Partners now owns 2,139 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 80 shares during the last quarter. Nelson Roberts Investment Advisors LLC grew its holdings in shares of PNC Financial Services Group by 14.8% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 637 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 82 shares during the last quarter. Independence Bank of Kentucky grew its holdings in shares of PNC Financial Services Group by 3.7% during the 1st quarter. Independence Bank of Kentucky now owns 2,365 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 85 shares during the last quarter. Finally, FDx Advisors Inc. grew its holdings in shares of PNC Financial Services Group by 0.8% during the 2nd quarter. FDx Advisors Inc. now owns 10,110 shares of the financial services provider’s stock valued at $1,388,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 81.65% of the company’s stock.

In other PNC Financial Services Group news, insider Karen L. Larrimer sold 7,806 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 30,978 shares of the company’s stock, valued at approximately $4,407,240.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Hannon sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $138.41, for a total transaction of $692,050.00. Following the sale, the insider now directly owns 52,417 shares in the company, valued at $7,255,036.97. The disclosure for this sale can be found here. Insiders have sold a total of 141,242 shares of company stock worth $19,853,468 over the last three months. Insiders own 0.37% of the company’s stock.

PNC traded down $0.41 during trading on Thursday, reaching $124.21. 78,823 shares of the company’s stock were exchanged, compared to its average volume of 2,141,141. PNC Financial Services Group Inc has a one year low of $108.45 and a one year 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 stock has a market capitalization of $57.28 billion, a PE ratio of 11.58, a PEG ratio of 1.67 and a beta of 1.07. The stock has a fifty day moving average price of $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 for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $4.40 billion. During the same period in the previous year, the firm posted $2.72 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PNC Financial Services Group Inc will post 11.29 earnings per share for the current year.

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

PNC has been the topic of several research reports. Morgan Stanley set a $141.00 price target on shares of PNC Financial Services Group and gave the company 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 report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lifted 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $143.41.

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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