Reliant Investment Management LLC trimmed its holdings in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,380 shares of the financial services provider’s stock after selling 595 shares during the period. PNC Financial Services Group, Inc. (The) makes up approximately 3.2% of Reliant Investment Management LLC’s investment portfolio, making the stock its 4th largest holding. Reliant Investment Management LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $4,168,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 3.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 75,084 shares of the financial services provider’s stock valued at $9,376,000 after purchasing an additional 2,492 shares during the period. Calamos Wealth Management LLC increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 3.2% during the second quarter. Calamos Wealth Management LLC now owns 20,719 shares of the financial services provider’s stock valued at $2,587,000 after purchasing an additional 640 shares during the period. Fragasso Group Inc. increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 1.9% during the second quarter. Fragasso Group Inc. now owns 17,770 shares of the financial services provider’s stock valued at $2,219,000 after purchasing an additional 331 shares during the period. Meiji Yasuda Life Insurance Co acquired a new position in shares of PNC Financial Services Group, Inc. (The) during the second quarter valued at $250,000. Finally, Northwestern Mutual Investment Management Company LLC increased its holdings in shares of PNC Financial Services Group, Inc. (The) by 560.0% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 648,603 shares of the financial services provider’s stock valued at $52,790,000 after purchasing an additional 550,330 shares during the period. 80.80% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on PNC shares. BidaskClub cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Credit Suisse Group reaffirmed a “neutral” rating and set a $126.00 target price (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, July 17th. Finally, Rafferty Capital Markets raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $126.02.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the business’s 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the business’s 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 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. 0.43% of the stock is currently owned by insiders.

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Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 133.43 on Monday. The firm’s 50-day moving average price is $127.83 and its 200-day moving average price is $123.75. PNC Financial Services Group, Inc. has a 12 month low of $87.04 and a 12 month high of $134.30. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 16.98 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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate 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 initiated a share repurchase 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 purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management 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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