Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,951 shares of the financial services provider’s stock after selling 111 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PNC Financial Services Group, Inc. (The) were worth $4,489,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Ropes Wealth Advisors LLC grew its holdings in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Ropes Wealth Advisors LLC now owns 1,849 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 8 shares during the period. Guardian Life Insurance Co. of America grew its holdings in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,876 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 8 shares during the period. Hudock Capital Group LLC grew its holdings in PNC Financial Services Group, Inc. (The) by 0.4% in the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 11 shares during the period. Telemus Capital LLC grew its holdings in PNC Financial Services Group, Inc. (The) by 0.3% in the second quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 16 shares during the period. Finally, Green Square Capital LLC grew its holdings in PNC Financial Services Group, Inc. (The) by 0.4% in the first quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 80.80% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) opened at 133.43 on Friday. The company has a market cap of $63.94 billion, a price-to-earnings ratio of 16.98 and a beta of 0.93. The firm has a 50-day moving average of $127.83 and a 200 day moving average of $123.75. PNC Financial Services Group, Inc. has a 12 month low of $87.04 and a 12 month high of $133.56.

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, beating analysts’ consensus estimates of $2.02 by $0.08. The firm had revenue of $4.06 billion for 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 quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 EPS. On average, analysts expect 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 of Directors has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

In other 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 transaction of $3,048,835.95. Following the sale, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The sale was disclosed in a legal filing with the SEC, 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 shares were 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.

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PNC has been the subject of a number of analyst reports. Robert W. Baird reiterated a “buy” rating and set a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Tuesday, September 5th. Piper Jaffray Companies reiterated a “buy” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Sunday, August 27th. BidaskClub cut shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $126.00 price objective (up from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $124.32.

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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