Legal & General Group Plc raised its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,491,441 shares of the financial services provider’s stock after purchasing an additional 72,775 shares during the quarter. Legal & General Group Plc owned approximately 0.52% of PNC Financial Services Group, Inc. (The) worth $311,109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PNC. Proficio Capital Partners LLC raised its position in shares of PNC Financial Services Group, Inc. (The) by 1,365.4% during the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 710 shares during the last quarter. First Interstate Bank raised its position in shares of PNC Financial Services Group, Inc. (The) by 34.0% during the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 243 shares during the last quarter. Ledyard National Bank raised its position in shares of PNC Financial Services Group, Inc. (The) by 6.3% during the second quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 75 shares during the last quarter. Jacobus Wealth Management Inc. raised its position in shares of PNC Financial Services Group, Inc. (The) by 3.7% during the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 53 shares during the last quarter. Finally, Doyle Wealth Management bought a new stake in shares of PNC Financial Services Group, Inc. (The) during the second quarter worth $203,000. Hedge funds and other institutional investors own 81.17% of the company’s stock.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of 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 sale, the insider now 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.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 120.71 on Friday. The firm has a 50-day moving average price of $128.00 and a 200-day moving average price of $123.85. The firm has a market capitalization of $57.84 billion, a PE ratio of 15.36 and a beta of 0.93. PNC Financial Services Group, Inc. has a 1-year low of $87.04 and a 1-year high of $133.26.

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 for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the business posted $1.82 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Equities analysts expect that PNC Financial Services Group, Inc. will post $8.39 earnings per share for the current fiscal year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that allows the company to buyback $2.70 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts have recently weighed in on PNC shares. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. BidaskClub downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Morgan Stanley restated an “equal weight” rating and set a $127.00 target price (up previously from $121.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Credit Suisse Group restated a “neutral” rating and set a $126.00 target price (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Finally, Deutsche Bank AG restated a “buy” rating and set a $130.00 target price (up previously from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. PNC Financial Services Group, Inc. (The) presently has an average rating of “Hold” and an average price target of $124.12.

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PNC Financial Services Group, Inc. (The) 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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