Zweig DiMenna Associates LLC Invests $7,883,000 in PNC Financial Services Group, Inc. (The) (PNC)

Zweig DiMenna Associates LLC Invests $7,883,000 in PNC Financial Services Group, Inc. (The) (PNC)

Zweig DiMenna Associates LLC purchased a new position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 87,500 shares of the company’s stock, valued at approximately $7,883,000.

Several other institutional investors have also modified their holdings of PNC. Huntington National Bank increased its position in shares of PNC Financial Services Group, Inc. (The) by 14.6% in the second quarter. Huntington National Bank now owns 275,683 shares of the company’s stock worth $22,438,000 after buying an additional 35,206 shares during the last quarter. Essex Financial Services Inc. increased its position in shares of PNC Financial Services Group, Inc. (The) by 0.8% in the second quarter. Essex Financial Services Inc. now owns 10,397 shares of the company’s stock worth $846,000 after buying an additional 85 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of PNC Financial Services Group, Inc. (The) during the second quarter worth about $963,000. Concert Wealth Management Inc. increased its position in shares of PNC Financial Services Group, Inc. (The) by 1.5% in the second quarter. Concert Wealth Management Inc. now owns 3,660 shares of the company’s stock worth $295,000 after buying an additional 53 shares during the last quarter. Finally, Bridge Creek Capital Management LLC increased its position in shares of PNC Financial Services Group, Inc. (The) by 20.7% in the second quarter. Bridge Creek Capital Management LLC now owns 20,105 shares of the company’s stock worth $1,636,000 after buying an additional 3,445 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 121.47 on Wednesday. PNC Financial Services Group, Inc. has a 52-week low of $77.40 and a 52-week high of $123.25. The firm has a market cap of $58.91 billion, a P/E ratio of 16.64 and a beta of 0.91. The company’s 50 day moving average is $118.75 and its 200 day moving average is $100.74.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, January 13th. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.12. The company had revenue of $3.83 billion for the quarter. PNC Financial Services Group, Inc. (The) had a net margin of 23.90% and a return on equity of 8.96%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.87 earnings per share. Equities research analysts forecast that PNC Financial Services Group, Inc. will post $7.89 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 5th. Shareholders of record on Tuesday, January 17th were paid a $0.55 dividend. The ex-dividend date was Thursday, January 12th. This represents a $2.20 dividend on an annualized basis and a yield of 1.81%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is presently 30.10%.

PNC has been the topic of a number of research analyst reports. Barclays PLC reissued a “hold” rating and set a $97.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, October 11th. Vetr raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $94.63 price objective on the stock in a report on Wednesday, October 12th. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Thursday, October 13th. Argus raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and boosted their price objective for the company from $88.03 to $98.00 in a report on Monday, October 17th. Finally, RBC Capital Markets reissued a “buy” rating and set a $95.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Thursday, November 3rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $101.62.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 1,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction on Friday, January 20th. The shares were sold at an average price of $116.85, for a total value of $116,850.00. Following the transaction, the insider now directly owns 17,529 shares in the company, valued at $2,048,263.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 179,809 shares of PNC Financial Services Group, Inc. (The) stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $107.61, for a total transaction of $19,349,246.49. Following the completion of the transaction, the chief executive officer now owns 531,755 shares in the company, valued at $57,222,155.55. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

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