Nomura Asset Management Co. Ltd. decreased its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,953 shares of the financial services provider’s stock after selling 434 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PNC Financial Services Group, Inc. (The) were worth $9,974,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. raised 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 worth $3,262,582,000 after buying an additional 26,208,815 shares during the period. FMR LLC increased its stake in shares of 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 in the last quarter. APG Asset Management N.V. increased its stake in shares of 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 in the last quarter. First Trust Advisors LP increased its stake in shares of 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 in the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of 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 in the last quarter. 81.49% of the stock is owned by institutional investors.

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

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

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

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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Several brokerages have commented on PNC. Wells Fargo & Company began coverage on PNC Financial Services Group, Inc. (The) in a research note on Wednesday. They set a “market perform” rating and a $119.00 target price on the stock. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Deutsche Bank AG restated a “buy” rating and issued a $130.00 price target (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $122.57.

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