Homrich & Berg purchased a new position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,146 shares of the financial services provider’s stock, valued at approximately $268,000.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. Proficio Capital Partners LLC boosted its stake in PNC Financial Services Group, Inc. (The) by 1,365.4% in the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 710 shares during the last quarter. First Interstate Bank boosted its stake in PNC Financial Services Group, Inc. (The) by 34.0% in the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 243 shares during the last quarter. Ledyard National Bank boosted its stake in PNC Financial Services Group, Inc. (The) by 6.3% in the second quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 75 shares during the last quarter. Jacobus Wealth Management Inc. boosted its stake in PNC Financial Services Group, Inc. (The) by 3.7% in the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 53 shares during the last quarter. Finally, Doyle Wealth Management purchased a new position in PNC Financial Services Group, Inc. (The) in the second quarter valued at about $203,000. Institutional investors and hedge funds own 80.80% of the company’s stock.

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 that occurred on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The sale was disclosed in a 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 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 transaction, the insider now directly owns 83,931 shares in the company, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

PNC has been the topic of a number of research analyst reports. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Tuesday, July 4th. 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. BMO Capital Markets reiterated a “buy” rating and issued a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, June 23rd. Finally, Rafferty Capital Markets upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $124.12.

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Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 129.70 on Tuesday. The company has a market cap of $62.15 billion, a price-to-earnings ratio of 16.51 and a beta of 0.93. The company’s 50-day moving average is $127.76 and its 200-day moving average is $123.73. 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 issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share 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 business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research 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 of Directors has authorized a stock repurchase plan 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 reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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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