Family Firm Inc. acquired a new stake 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 Securities and Exchange Commission (SEC). The institutional investor acquired 1,784 shares of the financial services provider’s stock, valued at approximately $223,000.

Other institutional investors also recently modified their holdings of the company. Honeywell International Inc. lifted its position in PNC Financial Services Group, Inc. (The) by 0.3% during the second quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock valued at $19,530,000 after purchasing an additional 400 shares during the period. Advisory Services Network LLC bought a new position in PNC Financial Services Group, Inc. (The) during the first quarter valued at approximately $539,000. Canada Pension Plan Investment Board lifted its position in PNC Financial Services Group, Inc. (The) by 12.9% during the second quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock valued at $77,485,000 after purchasing an additional 70,962 shares during the period. Usca Ria LLC bought a new position in PNC Financial Services Group, Inc. (The) during the first quarter valued at approximately $376,000. Finally, HPM Partners LLC bought a new position in PNC Financial Services Group, Inc. (The) during the first quarter valued at approximately $362,000. Institutional investors own 81.18% of the company’s stock.

In other PNC Financial Services Group, Inc. (The) news, 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 transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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. The company’s 50-day moving average is $127.70 and its 200 day moving average is $123.79. PNC Financial Services Group, Inc. has a 1-year low of $87.04 and a 1-year high of $133.26. The stock has a market capitalization of $61.43 billion, a PE ratio of 16.31 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $3.97 billion. During the same period in the previous year, the business posted $1.82 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. 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) declared that its board has authorized a share buyback program 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 programs are typically a sign that the company’s board believes its stock is undervalued.

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A number of brokerages recently weighed in on PNC. Wells Fargo & Company began coverage on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $119.00 price objective on the stock. Zacks Investment Research downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and issued a $130.00 price target (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, August 11th. Two 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.

PNC Financial Services Group, Inc. (The) 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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