Blair William & Co. IL cut its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 20.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,179 shares of the financial services provider’s stock after selling 5,328 shares during the period. Blair William & Co. IL’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,645,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PNC. Bank of New York Mellon Corp raised its position in shares of PNC Financial Services Group, Inc. (The) by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 5,951,738 shares of the financial services provider’s stock valued at $715,638,000 after buying an additional 69,815 shares during the period. Norges Bank bought a new position in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at approximately $479,996,000. Appaloosa LP raised its position in PNC Financial Services Group, Inc. (The) by 218.6% in the fourth quarter. Appaloosa LP now owns 1,950,973 shares of the financial services provider’s stock valued at $228,186,000 after buying an additional 1,338,528 shares during the period. APG Asset Management N.V. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 275.3% in the first quarter. APG Asset Management N.V. now owns 1,626,728 shares of the financial services provider’s stock worth $195,598,000 after buying an additional 1,193,335 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 12.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,520,589 shares of the financial services provider’s stock worth $182,836,000 after buying an additional 166,587 shares during the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.13% during trading on Thursday, reaching $130.51. 2,312,246 shares of the company traded hands. The firm has a market capitalization of $62.54 billion, a price-to-earnings ratio of 17.22 and a beta of 0.93. The company has a 50 day moving average price of $125.42 and a 200 day moving average price of $122.60. PNC Financial Services Group, Inc. has a 12-month low of $82.17 and a 12-month high of $131.83.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ 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 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 prior year, the company posted $1.82 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that PNC Financial Services Group, Inc. will post $8.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Monday, July 17th will be issued a dividend of $0.75 per share. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $3.00 annualized dividend and a yield of 2.30%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is presently 38.12%.

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

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PNC has been the subject of a number of research reports. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $130.00 price target (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, July 25th. Instinet reaffirmed a “neutral” rating and issued a $126.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Wednesday, July 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $127.00 price target (up previously from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $122.75.

In other news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the completion of the sale, the insider now owns 83,931 shares in the company, valued at $10,613,074.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

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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