Dai Ichi Life Insurance Company Ltd held its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,797 shares of the financial services provider’s stock at the end of the first quarter. Dai Ichi Life Insurance Company Ltd’s holdings in PNC Financial Services Group, Inc. (The) were worth $13,202,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at about $117,000. Ledyard National Bank increased its position in PNC Financial Services Group, Inc. (The) by 532.1% in the first quarter. Ledyard National Bank now owns 1,182 shares of the financial services provider’s stock valued at $142,000 after buying an additional 995 shares during the period. Pinnacle Bank acquired a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at $157,000. Quadrant Capital Group LLC increased its position in shares of PNC Financial Services Group, Inc. (The) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 1,413 shares of the financial services provider’s stock valued at $162,000 after buying an additional 39 shares during the period. Finally, Jacobus Wealth Management Inc. increased its position in shares of PNC Financial Services Group, Inc. (The) by 3.7% in the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 81.64% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (PNC) traded down 0.13% during mid-day trading on Thursday, hitting $130.51. The company had a trading volume of 2,312,246 shares. The company has a market cap of $62.54 billion, a PE ratio of 17.22 and a beta of 0.93. PNC Financial Services Group, Inc. has a 12 month low of $82.17 and a 12 month high of $131.83. The firm has a 50-day moving average of $125.42 and a 200-day moving average of $122.60.

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, beating the consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 EPS. On average, analysts expect that PNC Financial Services Group, Inc. will post $8.38 EPS for the current year.

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

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

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Several equities analysts recently weighed in on PNC shares. Instinet cut their price target on shares of PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, June 30th. Zacks Investment Research raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research note on Tuesday, May 30th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, April 17th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, 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 note on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $122.75.

In other news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction on 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 transaction, the insider now owns 83,931 shares in the company, valued at $10,613,074.95. 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.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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