Strategy Asset Managers LLC trimmed its holdings in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,654 shares of the financial services provider’s stock after selling 1,020 shares during the period. Strategy Asset Managers LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PNC. Beaumont Financial Partners LLC purchased a new stake in PNC Financial Services Group, Inc. (The) during the 1st quarter worth about $367,000. North Star Investment Management Corp. lifted its holdings in PNC Financial Services Group, Inc. (The) by 5.9% during the 1st quarter. North Star Investment Management Corp. now owns 10,056 shares of the financial services provider’s stock worth $1,209,000 after buying an additional 564 shares during the last quarter. Financial Consulate Inc. lifted its holdings in PNC Financial Services Group, Inc. (The) by 18.4% during the 1st quarter. Financial Consulate Inc. now owns 11,567 shares of the financial services provider’s stock worth $1,391,000 after buying an additional 1,800 shares during the last quarter. Greenleaf Trust purchased a new stake in PNC Financial Services Group, Inc. (The) during the 1st quarter worth about $284,000. Finally, Canada Pension Plan Investment Board lifted its holdings in PNC Financial Services Group, Inc. (The) by 103.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 549,562 shares of the financial services provider’s stock worth $66,079,000 after buying an additional 279,392 shares during the last quarter. 81.18% of the stock is owned by institutional investors.

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) opened at 127.30 on Thursday. The stock has a market capitalization of $61.00 billion, a P/E ratio of 16.20 and a beta of 0.93. PNC Financial Services Group, Inc. has a 1-year low of $87.04 and a 1-year high of $133.26. The firm’s 50-day moving average price is $127.75 and its 200 day moving average price is $123.74.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly 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 the consensus estimate 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 revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $1.82 earnings per share. Analysts expect that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

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

PNC has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Tuesday. Instinet decreased their price target on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, June 30th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Finally, Wells Fargo & Company initiated coverage on PNC Financial Services Group, Inc. (The) in a report on Wednesday, August 9th. They set a “market perform” rating and a $119.00 price target for the company. Two research 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. PNC Financial Services Group, Inc. (The) presently has an average rating of “Hold” and an average target price of $124.12.

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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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