Moisand Fitzgerald Tamayo LLC cut its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 22.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,726 shares of the financial services provider’s stock after selling 513 shares during the period. Moisand Fitzgerald Tamayo LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $216,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PNC. BlackRock Inc. grew its holdings in PNC Financial Services Group, Inc. (The) by 2,833.1% during the 1st quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock worth $3,262,582,000 after acquiring an additional 26,208,815 shares in the last quarter. FMR LLC grew its holdings in PNC Financial Services Group, Inc. (The) by 19.4% during the 1st quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock worth $1,654,586,000 after acquiring an additional 2,239,716 shares in the last quarter. APG Asset Management N.V. grew its holdings in PNC Financial Services Group, Inc. (The) by 275.3% during the 1st quarter. APG Asset Management N.V. now owns 1,626,728 shares of the financial services provider’s stock worth $195,598,000 after acquiring an additional 1,193,335 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in PNC Financial Services Group, Inc. (The) by 43,366.7% during the 2nd quarter. Harbour Capital Advisors LLC now owns 798,918 shares of the financial services provider’s stock worth $6,398,000 after acquiring an additional 797,080 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in PNC Financial Services Group, Inc. (The) by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 5,177,579 shares of the financial services provider’s stock worth $646,524,000 after acquiring an additional 746,102 shares in the last quarter. Institutional investors own 80.80% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 128.19 on Monday. PNC Financial Services Group, Inc. has a 12 month low of $87.04 and a 12 month high of $133.26. The stock has a market capitalization of $61.43 billion, a price-to-earnings ratio of 16.31 and a beta of 0.93. The company has a 50 day moving average of $127.70 and a 200 day moving average of $123.79.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly 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. 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 return on equity of 9.17% and a net margin of 24.50%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.82 earnings per share. On average, equities analysts predict that PNC Financial Services Group, Inc. will post $8.41 EPS for the current year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $2.70 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of the company’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 value of $3,048,835.95. Following the completion of the transaction, 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.

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Several brokerages have issued reports on PNC. Wells Fargo & Company began coverage on shares of PNC Financial Services Group, Inc. (The) in a report on Wednesday, August 9th. They set a “market perform” rating and a $119.00 target price on the stock. Zacks Investment Research cut shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a 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 report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $130.00 target price (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $136.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $124.12.

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.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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