PNC Financial Services Group Inc (PNC) Holdings Cut by WealthPLAN Partners LLC
WealthPLAN Partners LLC decreased its holdings in shares of PNC Financial Services Group Inc (NYSE:PNC) by 20.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,915 shares of the financial services provider’s stock after selling 771 shares during the period. WealthPLAN Partners LLC’s holdings in PNC Financial Services Group were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new position in PNC Financial Services Group during the 1st quarter worth approximately $102,000. Braun Bostich & Associates Inc. acquired a new position in PNC Financial Services Group during the 1st quarter worth approximately $105,000. McKinley Carter Wealth Services Inc. acquired a new position in PNC Financial Services Group during the 1st quarter worth approximately $150,000. Landaas & Co. WI ADV acquired a new position in PNC Financial Services Group during the 2nd quarter worth approximately $147,000. Finally, Archford Capital Strategies LLC increased its position in PNC Financial Services Group by 197.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 723 shares during the period. Institutional investors own 79.78% of the company’s stock.
In related news, Director Martin Pfinsgraff bought 700 shares of PNC Financial Services Group stock in a transaction that occurred on Wednesday, July 18th. The shares were purchased at an average price of $142.15 per share, with a total value of $99,505.00. Following the purchase, the director now owns 1,050 shares in the company, valued at $149,257.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Hannon sold 5,247 shares of the company’s stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $141.38, for a total value of $741,820.86. Following the completion of the sale, the insider now directly owns 58,239 shares in the company, valued at approximately $8,233,829.82. The disclosure for this sale can be found here. Insiders have sold a total of 58,957 shares of company stock worth $8,301,859 in the last three months. Corporate insiders own 0.38% of the company’s stock.
PNC Financial Services Group (NYSE:PNC) last released its earnings results on Friday, July 13th. The financial services provider reported $2.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.14. The company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.23 billion. PNC Financial Services Group had a return on equity of 10.33% and a net margin of 30.40%. equities analysts forecast that PNC Financial Services Group Inc will post 10.72 earnings per share for the current fiscal year.
About PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
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