DekaBank Deutsche Girozentrale increased its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 25.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,323 shares of the financial services provider’s stock after buying an additional 10,278 shares during the period. DekaBank Deutsche Girozentrale’s holdings in PNC Financial Services Group, Inc. (The) were worth $6,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Interstate Bank boosted its holdings in PNC Financial Services Group, Inc. (The) by 34.0% in the 1st quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after buying an additional 243 shares during the period. Ledyard National Bank boosted its holdings in PNC Financial Services Group, Inc. (The) by 6.3% in the 2nd quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock worth $157,000 after buying an additional 75 shares during the period. Jacobus Wealth Management Inc. boosted its holdings in PNC Financial Services Group, Inc. (The) by 3.7% in the 1st quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock worth $180,000 after buying an additional 53 shares during the period. Doyle Wealth Management bought a new position in PNC Financial Services Group, Inc. (The) in the 2nd quarter worth approximately $203,000. Finally, Northstar Wealth Partners LLC bought a new position in PNC Financial Services Group, Inc. (The) in the 2nd quarter worth approximately $206,000. 81.17% of the stock is owned by institutional investors.

PNC has been the subject of several analyst reports. Instinet cut their price objective on shares of 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 raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Tuesday, May 30th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. BMO Capital Markets reissued a “buy” rating and issued 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 initiated coverage on shares of PNC Financial Services Group, Inc. (The) in a report on Wednesday, August 9th. They issued a “market perform” rating and a $119.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $123.11.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 126.64 on Monday. The company has a 50-day moving average of $128.29 and a 200-day moving average of $123.96. PNC Financial Services Group, Inc. has a 12 month low of $87.04 and a 12 month high of $133.26. The stock has a market cap of $60.69 billion, a PE ratio of 16.12 and a beta of 0.93.

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 EPS for the quarter, beating 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 business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter last year, the business earned $1.82 earnings per share. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

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

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, July 13th. This represents a $3.00 annualized dividend and a yield of 2.37%. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is 38.12%.

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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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