B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund maintained its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,120 shares of the financial services provider’s stock at the close of the second quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,263,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Honeywell International Inc. increased its holdings in PNC Financial Services Group, Inc. (The) by 0.3% in the 2nd quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock valued at $19,530,000 after buying an additional 400 shares during the period. Advisory Services Network LLC bought a new stake in PNC Financial Services Group, Inc. (The) in the 1st quarter valued at $539,000. Canada Pension Plan Investment Board increased its holdings in PNC Financial Services Group, Inc. (The) by 12.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock valued at $77,485,000 after buying an additional 70,962 shares during the period. Usca Ria LLC bought a new stake in PNC Financial Services Group, Inc. (The) in the 1st quarter valued at $376,000. Finally, HPM Partners LLC bought a new stake in PNC Financial Services Group, Inc. (The) in the 1st quarter valued at $362,000. 81.18% of the stock is currently owned by institutional investors and hedge funds.

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In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction dated 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 completion of the transaction, the insider now owns 83,931 shares in the company, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 128.19 on Friday. PNC Financial Services Group, Inc. has a 12 month low of $87.04 and a 12 month high of $133.26. The company’s 50-day moving average is $127.70 and its 200 day moving average is $123.79. The firm has a market cap of $61.43 billion, a P/E ratio of 16.31 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the business posted $1.82 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts expect that PNC Financial Services Group, Inc. will post $8.41 EPS 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 outstanding 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 management believes its stock is undervalued.

Several equities research analysts have issued reports on PNC shares. BidaskClub lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Sunday, August 27th. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. Credit Suisse Group reissued a “neutral” rating and issued a $126.00 price target (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. Finally, Rafferty Capital Markets raised 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, fourteen have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price 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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