WMS Partners LLC trimmed its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,881 shares of the financial services provider’s stock after selling 44 shares during the period. WMS Partners LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Honeywell International Inc. boosted its position in shares of PNC Financial Services Group, Inc. (The) by 0.3% during the second quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock worth $19,530,000 after buying an additional 400 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of PNC Financial Services Group, Inc. (The) by 3.4% during the second quarter. Daiwa Securities Group Inc. now owns 15,346 shares of the financial services provider’s stock worth $1,916,000 after buying an additional 500 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of PNC Financial Services Group, Inc. (The) by 12.9% during the second quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock worth $77,485,000 after buying an additional 70,962 shares during the period. Legal & General Group Plc boosted its position in shares of PNC Financial Services Group, Inc. (The) by 3.0% during the second quarter. Legal & General Group Plc now owns 2,491,441 shares of the financial services provider’s stock worth $311,109,000 after buying an additional 72,775 shares during the period. Finally, HPM Partners LLC acquired a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth about $362,000. 80.80% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on PNC shares. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Instinet reduced their price objective on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, June 30th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, June 23rd. Finally, Wells Fargo & Company started coverage on PNC Financial Services Group, Inc. (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $119.00 price objective for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. PNC Financial Services Group, Inc. (The) presently has an average rating of “Hold” and an average price target of $126.02.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 133.43 on Monday. 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. has a 1-year low of $87.04 and a 1-year high of $134.30. The firm has a 50-day moving average price of $127.83 and a 200 day moving average price of $123.75.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the business earned $1.82 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, analysts predict that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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In other news, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 83,931 shares in the company, valued at approximately $10,613,074.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the business’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 value of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

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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