Marshall Wace North America L.P. lessened its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 29.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,114 shares of the financial services provider’s stock after selling 61,892 shares during the quarter. Marshall Wace North America L.P.’s holdings in PNC Financial Services Group were worth $20,171,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Argent Trust Co raised its stake in PNC Financial Services Group by 10.1% in the second quarter. Argent Trust Co now owns 3,981 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 365 shares in the last quarter. Daiwa SB Investments Ltd. raised its stake in PNC Financial Services Group by 9.2% during the third quarter. Daiwa SB Investments Ltd. now owns 4,530 shares of the financial services provider’s stock worth $617,000 after acquiring an additional 380 shares in the last quarter. Lakeview Capital Partners LLC raised its stake in PNC Financial Services Group by 11.3% during the second quarter. Lakeview Capital Partners LLC now owns 3,958 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 403 shares in the last quarter. LifePlan Financial Group Inc raised its stake in PNC Financial Services Group by 38.2% during the third quarter. LifePlan Financial Group Inc now owns 1,545 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 427 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA raised its stake in PNC Financial Services Group by 14.3% during the third quarter. Lederer & Associates Investment Counsel CA now owns 3,435 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 430 shares in the last quarter. 79.50% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Robert Q. Reilly sold 24,710 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $140.49, for a total value of $3,471,507.90. Following the completion of the transaction, the executive vice president now owns 131,020 shares of the company’s stock, valued at $18,406,999.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

PNC Financial Services Group stock opened at $126.56 on Friday. PNC Financial Services Group Inc has a 1 year low of $116.55 and a 1 year 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. The company has a market capitalization of $59.67 billion, a PE ratio of 14.89, a PEG ratio of 1.27 and a beta of 0.92.

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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.73 by $0.09. PNC Financial Services Group had a return on equity of 10.88% and a net margin of 30.97%. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. On average, sell-side analysts predict that PNC Financial Services Group Inc will post 10.76 EPS for the current fiscal year.

PNC Financial Services Group declared that its board has initiated a stock buyback plan on Thursday, November 8th that permits the company to repurchase $900.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 1.5% 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.

Several research analysts have commented on the company. Credit Suisse Group lowered their target price on PNC Financial Services Group from $150.00 to $146.00 and set a “neutral” rating for the company in a research note on Friday. ValuEngine raised PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Macquarie downgraded PNC Financial Services Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, November 27th. BMO Capital Markets downgraded PNC Financial Services Group from an “outperform” rating to a “market perform” rating and set a $139.00 target price for the company. in a research note on Monday, November 19th. They noted that the move was a valuation call. Finally, UBS Group set a $137.00 target price on PNC Financial Services Group and gave the stock a “hold” rating in a research note on Monday, October 15th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $155.53.

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

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