Highstreet Asset Management Inc. boosted its holdings in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 141.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,530 shares of the financial services provider’s stock after buying an additional 13,766 shares during the period. Highstreet Asset Management Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in 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 buying an additional 710 shares in the last quarter. First Interstate Bank boosted its stake in 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 buying an additional 243 shares in the last quarter. Ledyard National Bank boosted its stake in 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 buying an additional 75 shares in the last quarter. Jacobus Wealth Management Inc. boosted its stake in 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 buying an additional 53 shares in the last quarter. Finally, Doyle Wealth Management acquired a new stake in 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 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 completion of 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 through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction dated Wednesday, July 26th. The shares were 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. 0.43% of the stock is currently owned by company insiders.

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Several equities research analysts have recently commented on the stock. BidaskClub downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Piper Jaffray Companies restated a “buy” rating and issued a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. Zacks Investment Research downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Credit Suisse Group restated a “neutral” rating and issued a $126.00 target price (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, July 17th. Finally, Rafferty Capital Markets upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $124.12.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 121.51 on Friday. PNC Financial Services Group, Inc. has a one year low of $87.04 and a one year high of $133.26. The company has a market capitalization of $58.23 billion, a PE ratio of 15.46 and a beta of 0.93. The firm’s 50-day moving average price is $127.84 and its 200 day moving average price is $123.83.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, beating the consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion during 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 business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $1.82 earnings per share. Analysts anticipate that PNC Financial Services Group, Inc. will post $8.39 earnings per share for the current year.

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

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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