Robeco Institutional Asset Management B.V. raised its holdings in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 23.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 407,327 shares of the financial services provider’s stock after acquiring an additional 76,419 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.09% of PNC Financial Services Group, Inc. (The) worth $50,865,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC raised its holdings 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 valued at $100,000 after acquiring an additional 710 shares during the period. First Interstate Bank raised its holdings 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 valued at $115,000 after acquiring an additional 243 shares during the period. Ledyard National Bank raised its holdings 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 valued at $157,000 after acquiring an additional 75 shares during the period. Jacobus Wealth Management Inc. raised its holdings 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 valued at $180,000 after acquiring an additional 53 shares during the period. Finally, Doyle Wealth Management bought a new stake in PNC Financial Services Group, Inc. (The) during the second quarter valued at about $203,000. 81.18% of the stock is currently owned by institutional investors and hedge funds.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 128.19 on Friday. The stock has a market cap of $61.43 billion, a price-to-earnings ratio of 16.31 and a beta of 0.93. The firm’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 12 month low of $87.04 and a 12 month high of $133.26.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (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 net margin of 24.50% and a return on equity of 9.17%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. On average, equities research analysts predict that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to buyback $2.70 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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In other news, insider Michael J. Hannon sold 24,111 shares of the firm’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 transaction of $3,048,835.95. Following the completion of the sale, the insider now owns 83,931 shares in the company, valued at approximately $10,613,074.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’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 transaction of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

PNC has been the topic of a number of recent analyst reports. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Instinet decreased their price target on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating on the stock 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 issued a $134.00 target price 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 issued a “market perform” rating and a $119.00 target price on the stock. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $124.12.

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.

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

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