State of Tennessee Treasury Department raised its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 7.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 428,922 shares of the financial services provider’s stock after purchasing an additional 28,324 shares during the period. State of Tennessee Treasury Department owned 0.09% of PNC Financial Services Group, Inc. (The) worth $53,560,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC lifted its position in shares of 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 worth $100,000 after purchasing an additional 710 shares during the period. First Interstate Bank lifted its position in shares of 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 worth $115,000 after purchasing an additional 243 shares during the period. Ledyard National Bank lifted its position in shares of 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 worth $157,000 after purchasing an additional 75 shares during the period. Jacobus Wealth Management Inc. lifted its position in shares of 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 worth $180,000 after purchasing an additional 53 shares during the period. Finally, Doyle Wealth Management acquired a new position in shares of PNC Financial Services Group, Inc. (The) in the 2nd quarter worth approximately $203,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) opened at 133.43 on Friday. PNC Financial Services Group, Inc. has a 52 week low of $87.04 and a 52 week high of $133.56. The firm’s 50-day moving average is $127.83 and its 200-day moving average is $123.75. The company has a market cap of $63.94 billion, a price-to-earnings ratio of 16.98 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.17% and a net margin of 24.50%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. Equities research analysts predict 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 initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $2.70 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of the 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 currently owned by corporate insiders.

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A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a research report on Tuesday. Piper Jaffray Companies restated a “buy” rating and issued a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Sunday, August 27th. Robert W. Baird restated a “buy” rating and issued a $135.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, August 28th. BidaskClub downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $124.32.

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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