Hollow Brook Wealth Management LLC raised its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,002 shares of the financial services provider’s stock after purchasing an additional 2,148 shares during the quarter. PNC Financial Services Group, Inc. (The) accounts for 2.1% of Hollow Brook Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Hollow Brook Wealth Management LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,997,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC grew its stake in PNC Financial Services Group, Inc. (The) by 1,365.4% in the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 710 shares during the period. First Interstate Bank grew its stake in PNC Financial Services Group, Inc. (The) by 34.0% in the 1st quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 243 shares during the period. Ledyard National Bank grew its stake in PNC Financial Services Group, Inc. (The) by 6.3% in the 2nd quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 75 shares during the period. Jacobus Wealth Management Inc. grew its stake in PNC Financial Services Group, Inc. (The) by 3.7% in the 1st quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 53 shares during the period. Finally, Doyle Wealth Management bought a new position in PNC Financial Services Group, Inc. (The) in the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 81.18% of the company’s stock.

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

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 (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current year.

PNC Financial Services Group, Inc. (The) announced that its board has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

A number of research analysts have issued reports on PNC shares. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Tuesday. Instinet reduced their price objective on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, June 30th. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. BMO Capital Markets restated a “buy” rating and issued a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, June 23rd. Finally, Wells Fargo & Company started coverage on PNC Financial Services Group, Inc. (The) in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $119.00 price objective for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $124.12.

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of the business’s 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 completion of the sale, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were 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. Insiders own 0.43% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “PNC Financial Services Group, Inc. (The) (PNC) Holdings Lifted by Hollow Brook Wealth Management LLC” was published by Daily Political and is owned by of Daily Political. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright law. The correct version of this report can be read at https://www.dailypolitical.com/2017/09/16/pnc-financial-services-group-inc-the-pnc-holdings-lifted-by-hollow-brook-wealth-management-llc.html.

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.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Receive News & Ratings for PNC Financial Services Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.