Foundry Partners LLC increased its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,700 shares of the financial services provider’s stock after purchasing an additional 2,725 shares during the quarter. Foundry Partners LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $10,452,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in PNC Financial Services Group, Inc. (The) by 2,833.1% during the first quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock valued at $3,262,582,000 after acquiring an additional 26,208,815 shares during the last quarter. FMR LLC boosted its position in PNC Financial Services Group, Inc. (The) by 19.4% during the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock valued at $1,654,586,000 after acquiring an additional 2,239,716 shares during the last quarter. APG Asset Management N.V. boosted its position in PNC Financial Services Group, Inc. (The) by 275.3% during the first quarter. APG Asset Management N.V. now owns 1,626,728 shares of the financial services provider’s stock valued at $195,598,000 after acquiring an additional 1,193,335 shares during the last quarter. Harbour Capital Advisors LLC boosted its position in PNC Financial Services Group, Inc. (The) by 43,366.7% during the second quarter. Harbour Capital Advisors LLC now owns 798,918 shares of the financial services provider’s stock valued at $6,398,000 after acquiring an additional 797,080 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in PNC Financial Services Group, Inc. (The) by 272.1% during the first quarter. First Trust Advisors LP now owns 855,203 shares of the financial services provider’s stock valued at $102,830,000 after acquiring an additional 625,372 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors.

PNC has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. BidaskClub cut shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Credit Suisse Group reaffirmed a “neutral” rating and set a $126.00 price target (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $127.00 price target (up previously from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $130.00 price target (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $123.11.

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Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 126.64 on Monday. PNC Financial Services Group, Inc. has a 12-month low of $87.04 and a 12-month high of $133.26. The firm has a market cap of $60.69 billion, a price-to-earnings ratio of 16.12 and a beta of 0.93. 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. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the company posted $1.82 EPS. PNC Financial Services Group, Inc. (The)’s revenue was up 7.0% on a year-over-year basis. Analysts predict that PNC Financial Services Group, Inc. will post $8.38 EPS for the current year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were given a dividend of $0.75 per share. This is a boost 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 yield of 2.37%. The ex-dividend date of this dividend was Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is 38.12%.

In related news, 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 shares were 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated 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 directly owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

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.

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

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