NGAM Advisors L.P. increased its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,113 shares of the financial services provider’s stock after buying an additional 1,945 shares during the period. NGAM Advisors L.P.’s holdings in PNC Financial Services Group, Inc. (The) were worth $17,871,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Oakbrook Investments LLC boosted its position in PNC Financial Services Group, Inc. (The) by 1.4% in the first quarter. Oakbrook Investments LLC now owns 47,800 shares of the financial services provider’s stock worth $5,747,000 after buying an additional 650 shares in the last quarter. Rothschild Investment Corp IL acquired a new position in PNC Financial Services Group, Inc. (The) during the first quarter worth $666,000. State of Alaska Department of Revenue acquired a new position in PNC Financial Services Group, Inc. (The) during the first quarter worth $589,000. Retirement Systems of Alabama boosted its position in PNC Financial Services Group, Inc. (The) by 1.9% in the first quarter. Retirement Systems of Alabama now owns 234,999 shares of the financial services provider’s stock worth $28,256,000 after buying an additional 4,410 shares in the last quarter. Finally, Wagner Bowman Management Corp boosted its position in PNC Financial Services Group, Inc. (The) by 23.7% in the first quarter. Wagner Bowman Management Corp now owns 3,093 shares of the financial services provider’s stock worth $371,000 after buying an additional 593 shares in the last quarter. 82.12% of the stock is owned by institutional investors and hedge funds.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 127.53 on Thursday. PNC Financial Services Group, Inc. has a 52 week low of $85.54 and a 52 week high of $133.26. The stock has a market cap of $61.11 billion, a PE ratio of 16.23 and a beta of 0.93. The stock has a 50 day moving average price of $128.30 and a 200 day moving average price of $123.76.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.82 earnings per share. On average, equities analysts predict that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 17th were paid a $0.75 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.35%. PNC Financial Services Group, Inc. (The)’s payout ratio is presently 38.12%.

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

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A number of equities analysts have recently weighed in on PNC shares. Instinet lowered their price target on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, June 30th. Zacks Investment Research upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a report on Tuesday, May 30th. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. BMO Capital Markets reiterated a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Finally, Wells Fargo & Company started coverage on PNC Financial Services Group, Inc. (The) in a report on Wednesday, August 9th. They set a “market perform” rating and a $119.00 price target for the company. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. PNC Financial Services Group, Inc. (The) has a consensus rating of “Hold” and a consensus price target of $122.57.

In other news, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total value of $3,048,835.95. Following the transaction, the insider now directly owns 83,931 shares in the company, valued at $10,613,074.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The disclosure for this sale can be found here. 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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