Indiana Trust & Investment Management CO continued to hold its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the second quarter, Holdings Channel reports. The fund owned 2,593 shares of the financial services provider’s stock at the end of the second quarter. Indiana Trust & Investment Management CO’s holdings in PNC Financial Services Group, Inc. (The) were worth $324,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in PNC Financial Services Group, Inc. (The) by 2,833.1% in the first quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock valued at $3,262,582,000 after buying an additional 26,208,815 shares during the last quarter. FMR LLC increased its position in PNC Financial Services Group, Inc. (The) by 19.4% in the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock valued at $1,654,586,000 after buying an additional 2,239,716 shares during the last quarter. APG Asset Management N.V. increased its position in PNC Financial Services Group, Inc. (The) by 275.3% in the first quarter. APG Asset Management N.V. now owns 1,626,728 shares of the financial services provider’s stock valued at $195,598,000 after buying an additional 1,193,335 shares during the last quarter. First Trust Advisors LP increased its position in PNC Financial Services Group, Inc. (The) by 272.1% in the first quarter. First Trust Advisors LP now owns 855,203 shares of the financial services provider’s stock valued at $102,830,000 after buying an additional 625,372 shares during the last quarter. Finally, Janus Capital Management LLC increased its position in PNC Financial Services Group, Inc. (The) by 518.1% in the first quarter. Janus Capital Management LLC now owns 504,933 shares of the financial services provider’s stock valued at $60,713,000 after buying an additional 423,245 shares during the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.73% during midday trading on Friday, hitting $128.05. 2,931,654 shares of the stock traded hands. PNC Financial Services Group, Inc. has a one year low of $84.97 and a one year high of $133.26. The company has a market cap of $61.36 billion, a P/E ratio of 16.30 and a beta of 0.93. The company’s 50 day moving average is $127.20 and its 200-day moving average is $123.30.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.82 EPS. On average, equities research analysts forecast that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were issued a $0.75 dividend. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.34%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is presently 38.12%.

PNC Financial Services Group, Inc. (The) declared that its board has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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PNC has been the topic of several research reports. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, April 17th. Rafferty Capital Markets downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating and set a $121.00 target price on the stock. in a research report on Monday, April 17th. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Hilliard Lyons raised PNC Financial Services Group, Inc. (The) from an “underperform” rating to a “hold” rating and cut their target price for the company from $127.00 to $123.00 in a research report on Monday, April 17th. Finally, Instinet upped their target price on PNC Financial Services Group, Inc. (The) from $121.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $122.57.

In other news, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total value of $3,048,835.95. Following the transaction, the insider now directly owns 83,931 shares in the company, valued at approximately $10,613,074.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

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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