AMG Funds LLC cut its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,835 shares of the financial services provider’s stock after selling 58 shares during the period. AMG Funds LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $1,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in shares of PNC Financial Services Group, Inc. (The) by 1,365.4% during the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 710 shares in the last quarter. First Interstate Bank raised its stake in shares of PNC Financial Services Group, Inc. (The) by 34.0% during the 1st quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 243 shares in the last quarter. Ledyard National Bank raised its stake in shares of PNC Financial Services Group, Inc. (The) by 6.3% during the 2nd quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 75 shares in the last quarter. Jacobus Wealth Management Inc. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 3.7% during the 1st quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 53 shares in the last quarter. Finally, Doyle Wealth Management purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the 2nd quarter worth about $203,000. 80.80% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on PNC shares. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Instinet lowered 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 report on Friday, June 30th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. BMO Capital Markets reissued a “buy” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Finally, Wells Fargo & Company began coverage on PNC Financial Services Group, Inc. (The) in a report on Wednesday, August 9th. They set a “market perform” rating and a $119.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $126.33.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 134.32 on Thursday. The firm has a market cap of $64.37 billion, a price-to-earnings ratio of 17.09 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 $135.67. The stock’s 50 day moving average price is $127.83 and its 200 day moving average price is $123.75.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings data 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. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates 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 business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.82 earnings per share. On average, equities analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its board has approved a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

In other news, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total value of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the company’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 disclosure for this sale can be found here. 0.43% of the stock is currently owned by corporate insiders.

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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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