Edinburgh Partners Ltd held its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 913 shares of the financial services provider’s stock at the close of the second quarter. PNC Financial Services Group, Inc. (The) makes up about 0.0% of Edinburgh Partners Ltd’s portfolio, making the stock its 16th largest holding. Edinburgh Partners Ltd’s holdings in PNC Financial Services Group, Inc. (The) were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. KBC Group NV raised its holdings in PNC Financial Services Group, Inc. (The) by 13.3% during the second quarter. KBC Group NV now owns 130,365 shares of the financial services provider’s stock worth $16,279,000 after buying an additional 15,326 shares during the last quarter. Douglass Winthrop Advisors LLC acquired a new position in PNC Financial Services Group, Inc. (The) during the second quarter worth $285,000. Deprince Race & Zollo Inc. raised its holdings in PNC Financial Services Group, Inc. (The) by 0.9% during the second quarter. Deprince Race & Zollo Inc. now owns 240,460 shares of the financial services provider’s stock worth $30,026,000 after buying an additional 2,165 shares during the last quarter. Ballentine Partners LLC raised its holdings in PNC Financial Services Group, Inc. (The) by 28.4% during the second quarter. Ballentine Partners LLC now owns 12,539 shares of the financial services provider’s stock worth $1,622,000 after buying an additional 2,776 shares during the last quarter. Finally, Highstreet Asset Management Inc. raised its holdings in PNC Financial Services Group, Inc. (The) by 141.0% during the second quarter. Highstreet Asset Management Inc. now owns 23,530 shares of the financial services provider’s stock worth $2,939,000 after buying an additional 13,766 shares during the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 121.51 on Friday. PNC Financial Services Group, Inc. has a 12 month low of $87.04 and a 12 month high of $133.26. The firm’s 50-day moving average is $127.84 and its 200-day moving average is $123.83. The company has a market cap of $58.23 billion, a price-to-earnings ratio of 15.46 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings results 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 firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, analysts anticipate that PNC Financial Services Group, Inc. will post $8.39 EPS for the current fiscal year.

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

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In other news, insider Wyk Steven C. Van sold 5,000 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the company’s 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 sale, the insider now directly 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 corporate insiders.

PNC has been the topic of several research reports. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Tuesday, July 4th. Royal Bank Of Canada restated a “buy” rating and set a $130.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Thursday, June 15th. BidaskClub upgraded 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 restated a “buy” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Finally, Rafferty Capital Markets upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $124.12.

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.

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

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