MUFG Americas Holdings Corp grew its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 105.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,154 shares of the financial services provider’s stock after purchasing an additional 23,641 shares during the quarter. MUFG Americas Holdings Corp’s holdings in PNC Financial Services Group, Inc. (The) were worth $5,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Parsons Capital Management Inc. RI grew its position in shares of PNC Financial Services Group, Inc. (The) by 2.5% during the first quarter. Parsons Capital Management Inc. RI now owns 4,474 shares of the financial services provider’s stock worth $538,000 after acquiring an additional 110 shares during the last quarter. Beaumont Financial Partners LLC purchased a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $367,000. North Star Investment Management Corp. grew its position in shares of PNC Financial Services Group, Inc. (The) by 5.9% during the first quarter. North Star Investment Management Corp. now owns 10,056 shares of the financial services provider’s stock worth $1,209,000 after acquiring an additional 564 shares during the last quarter. Financial Consulate Inc. grew its position in shares of PNC Financial Services Group, Inc. (The) by 18.4% during the first quarter. Financial Consulate Inc. now owns 11,567 shares of the financial services provider’s stock worth $1,391,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Greenleaf Trust purchased a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $284,000. 81.18% of the stock is currently owned by institutional investors.

PNC has been the topic of a number of research reports. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Tuesday. Instinet lowered their price objective on shares of PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, June 30th. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. BMO Capital Markets reiterated a “buy” rating and issued a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, June 23rd. Finally, Wells Fargo & Company initiated coverage on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $119.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. PNC Financial Services Group, Inc. (The) has a consensus rating of “Hold” and an average price target of $124.12.

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In other news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction on 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 is available through this link. Also, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the sale, 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. Corporate insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (PNC) opened at 126.44 on Wednesday. PNC Financial Services Group, Inc. has a 52 week low of $87.04 and a 52 week high of $133.26. The firm has a market cap of $60.59 billion, a P/E ratio of 16.09 and a beta of 0.93. The company has a 50-day moving average of $127.77 and a 200 day moving average of $123.74.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is 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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