Pacer Advisors Inc. raised its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,051 shares of the financial services provider’s stock after buying an additional 848 shares during the quarter. Pacer Advisors Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $1,380,000 as of its most recent SEC filing.

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

Several equities analysts have issued reports on PNC shares. BidaskClub lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Rafferty Capital Markets raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $126.00 price target (up from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PNC Financial Services Group, Inc. (The) presently has a consensus rating of “Hold” and an average target price of $124.12.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 128.19 on Friday. PNC Financial Services Group, Inc. has a one year low of $87.04 and a one year high of $133.26. The company has a market cap of $61.43 billion, a P/E 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. (The) (NYSE:PNC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the business earned $1.82 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, 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) declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $2.70 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Hannon sold 24,111 shares of the business’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 completion of the transaction, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

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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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