Calamos Advisors LLC decreased its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 241,078 shares of the financial services provider’s stock after selling 3,849 shares during the quarter. Calamos Advisors LLC owned about 0.05% of PNC Financial Services Group, Inc. (The) worth $30,103,000 at the end of the most recent quarter.

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

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 133.43 on Monday. The company 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 1-year low of $87.04 and a 1-year high of $134.30. The stock has a market cap of $63.94 billion, a P/E ratio of 16.98 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. PNC Financial Services Group, Inc. (The)’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that PNC Financial Services Group, Inc. will post $8.41 EPS for the current year.

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

PNC has been the subject of several research reports. BidaskClub lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. 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 research report on Sunday, August 27th. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Credit Suisse Group reiterated a “neutral” rating and set a $126.00 price objective (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Finally, Rafferty Capital Markets upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. PNC Financial Services Group, Inc. (The) currently has a consensus rating of “Hold” and a consensus target price of $126.02.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the company’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 completion of the transaction, the insider now directly owns 83,931 shares in the company, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

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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.

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

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