Provident Trust Co. lowered its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,297,161 shares of the financial services provider’s stock after selling 9,052 shares during the period. PNC Financial Services Group, Inc. (The) accounts for 7.8% of Provident Trust Co.’s portfolio, making the stock its 5th largest holding. Provident Trust Co. owned about 0.27% of PNC Financial Services Group, Inc. (The) worth $161,976,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Thompson Investment Management Inc. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 0.4% in the second quarter. Thompson Investment Management Inc. now owns 34,009 shares of the financial services provider’s stock valued at $4,247,000 after acquiring an additional 121 shares during the last quarter. ProVise Management Group LLC bought a new position in shares of PNC Financial Services Group, Inc. (The) in the second quarter valued at approximately $287,000. Aviva PLC raised its stake in shares of PNC Financial Services Group, Inc. (The) by 0.4% in the second quarter. Aviva PLC now owns 306,027 shares of the financial services provider’s stock valued at $38,207,000 after acquiring an additional 1,100 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 1.1% in the second quarter. Victory Capital Management Inc. now owns 300,275 shares of the financial services provider’s stock valued at $37,495,000 after acquiring an additional 3,389 shares during the last quarter. Finally, First National Trust Co. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 3.0% in the second quarter. First National Trust Co. now owns 33,861 shares of the financial services provider’s stock valued at $4,228,000 after acquiring an additional 996 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.

A number of research analysts have recently issued reports on PNC shares. Keefe, Bruyette & Woods set a $125.00 target price on shares of PNC Financial Services Group, Inc. (The) and gave the company a “hold” rating in a research note on Friday, May 19th. Zacks Investment Research cut shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $136.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Thursday, June 8th. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $130.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Thursday, June 15th. Two investment 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. The company currently has an average rating of “Hold” and an average target price of $124.12.

In other news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction on 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 completion of the sale, 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 SEC, which is available at this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the 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 disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 127.30 on Thursday. The firm’s 50-day moving average is $127.75 and its 200-day moving average is $123.74. The firm has a market cap of $61.00 billion, a price-to-earnings ratio of 16.20 and a beta of 0.93. PNC Financial Services Group, Inc. has a 12-month low of $87.04 and a 12-month high of $133.26.

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 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 24.50% and a return on equity of 9.17%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.82 earnings per share. Analysts predict that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current fiscal year.

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

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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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