SevenBridge Financial Group LLC trimmed its stake in PNC Financial Services Group Inc (NYSE:PNC) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,883 shares of the financial services provider’s stock after selling 375 shares during the period. PNC Financial Services Group makes up about 1.1% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 29th biggest position. SevenBridge Financial Group LLC’s holdings in PNC Financial Services Group were worth $2,027,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PNC. Capital Fund Management S.A. raised its stake in shares of PNC Financial Services Group by 8,670.9% during the 3rd quarter. Capital Fund Management S.A. now owns 134,370 shares of the financial services provider’s stock worth $18,300,000 after acquiring an additional 132,838 shares in the last quarter. King Luther Capital Management Corp bought a new position in shares of PNC Financial Services Group during the 3rd quarter worth approximately $532,000. Highbridge Capital Management LLC raised its stake in shares of PNC Financial Services Group by 53.1% during the 3rd quarter. Highbridge Capital Management LLC now owns 100,000 shares of the financial services provider’s stock worth $13,619,000 after acquiring an additional 34,669 shares in the last quarter. Connors Investor Services Inc. raised its stake in shares of PNC Financial Services Group by 5.0% during the 3rd quarter. Connors Investor Services Inc. now owns 83,794 shares of the financial services provider’s stock worth $11,412,000 after acquiring an additional 4,020 shares in the last quarter. Finally, Bristol Gate Capital Partners Inc. raised its stake in shares of PNC Financial Services Group by 7.8% during the 3rd quarter. Bristol Gate Capital Partners Inc. now owns 240,643 shares of the financial services provider’s stock worth $32,773,000 after acquiring an additional 17,513 shares in the last quarter. 79.50% of the stock is owned by institutional investors.

Several research analysts recently commented on the stock. ValuEngine upgraded shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Macquarie lowered shares of PNC Financial Services Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, November 27th. BMO Capital Markets lowered shares of PNC Financial Services Group from an “outperform” rating to a “market perform” rating and set a $139.00 price target on the stock. in a research note on Monday, November 19th. They noted that the move was a valuation call. UBS Group set a $137.00 price target on shares of PNC Financial Services Group and gave the company a “hold” rating in a research note on Monday, October 15th. Finally, Vining Sparks restated a “buy” rating and set a $160.00 price target on shares of PNC Financial Services Group in a research note on Tuesday, October 9th. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $155.80.

In other news, EVP Robert Q. Reilly sold 24,710 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $140.49, for a total value of $3,471,507.90. Following the sale, the executive vice president now owns 131,020 shares in the company, valued at $18,406,999.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Shares of NYSE:PNC traded down $3.49 during midday trading on Thursday, reaching $126.02. The company’s stock had a trading volume of 18,826 shares, compared to its average volume of 2,498,785. The firm has a market capitalization of $59.76 billion, a P/E ratio of 14.83, a PEG ratio of 1.28 and a beta of 0.92. PNC Financial Services Group Inc has a twelve month low of $116.55 and a twelve month high of $163.59. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.90 and a quick ratio of 0.89.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.73 by $0.09. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.32 billion. PNC Financial Services Group had a net margin of 30.97% and a return on equity of 10.88%. During the same quarter in the prior year, the business earned $2.16 earnings per share. Equities analysts anticipate that PNC Financial Services Group Inc will post 10.76 EPS for the current fiscal year.

PNC Financial Services Group announced that its board has authorized a share buyback program on Thursday, November 8th that allows the company to repurchase $900.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 1.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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PNC Financial Services Group Company Profile

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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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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