National Investment Services Inc. WI lessened its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,027 shares of the financial services provider’s stock after selling 1,791 shares during the quarter. PNC Financial Services Group, Inc. (The) accounts for about 2.6% of National Investment Services Inc. WI’s holdings, making the stock its 9th biggest holding. National Investment Services Inc. WI’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its stake in PNC Financial Services Group, Inc. (The) by 1,365.4% during the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock worth $100,000 after buying an additional 710 shares during the period. First Interstate Bank boosted its stake in PNC Financial Services Group, Inc. (The) by 34.0% during the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after buying an additional 243 shares during the period. Ledyard National Bank boosted its stake in PNC Financial Services Group, Inc. (The) by 6.3% during the second quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock worth $157,000 after buying an additional 75 shares during the period. Jacobus Wealth Management Inc. boosted its stake in PNC Financial Services Group, Inc. (The) by 3.7% during the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock worth $180,000 after buying an additional 53 shares during the period. Finally, Doyle Wealth Management purchased a new position in PNC Financial Services Group, Inc. (The) during the second quarter worth about $203,000. 81.18% of the stock is owned by institutional investors.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 128.19 on Friday. PNC Financial Services Group, Inc. has a 12-month low of $87.04 and a 12-month high of $133.26. The firm has a market cap of $61.43 billion, a PE ratio of 16.31 and a beta of 0.93. The firm’s 50-day moving average is $127.70 and its 200-day moving average is $123.79.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the business earned $1.82 EPS. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has initiated a share buyback plan 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 repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

PNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods set a $125.00 target price on shares of PNC Financial Services Group, Inc. (The) and gave the stock a “hold” rating in a research note on Friday, May 19th. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Jefferies Group LLC reissued a “hold” rating and set a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Thursday, June 8th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $130.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. PNC Financial Services Group, Inc. (The) has a consensus rating of “Hold” and an average target price of $124.12.

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In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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.

PNC Financial Services Group, Inc. (The) 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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