Mycio Wealth Partners LLC continued to hold its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,591 shares of the financial services provider’s stock at the end of the 2nd quarter. Mycio Wealth Partners LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $1,033,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hudock Capital Group LLC raised its stake in PNC Financial Services Group, Inc. (The) by 0.4% during the second quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock valued at $336,000 after buying an additional 11 shares in the last quarter. Brookstone Capital Management raised its stake in PNC Financial Services Group, Inc. (The) by 9.8% during the second quarter. Brookstone Capital Management now owns 2,115 shares of the financial services provider’s stock valued at $264,000 after buying an additional 188 shares in the last quarter. Pacer Advisors Inc. raised its stake in PNC Financial Services Group, Inc. (The) by 8.3% during the second quarter. Pacer Advisors Inc. now owns 11,051 shares of the financial services provider’s stock valued at $1,380,000 after buying an additional 848 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in PNC Financial Services Group, Inc. (The) by 17.9% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 116,863 shares of the financial services provider’s stock valued at $14,593,000 after buying an additional 17,711 shares in the last quarter. Finally, Andra AP fonden raised its stake in PNC Financial Services Group, Inc. (The) by 13.8% during the second quarter. Andra AP fonden now owns 47,900 shares of the financial services provider’s stock valued at $5,981,000 after buying an additional 5,800 shares in the last quarter. Hedge funds and other institutional investors own 80.80% of the company’s stock.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, 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.

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PNC Financial Services Group, Inc. (PNC) opened at 128.19 on Monday. The company has a 50-day moving average price of $127.70 and a 200-day moving average price of $123.79. The company has a market capitalization of $61.43 billion, a price-to-earnings ratio of 16.31 and a beta of 0.93. PNC Financial Services Group, Inc. has a one year low of $87.04 and a one year high of $133.26.

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 analysts’ consensus estimates 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 company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. PNC Financial Services Group, Inc. (The)’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 EPS for the current year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Several analysts have issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $136.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Thursday, June 8th. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $129.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, July 14th. Nomura upped their price objective on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the company a “neutral” rating in a research note on Monday, July 17th. Finally, Instinet cut their price objective on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average 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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