Amalgamated Bank grew its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 56.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,489 shares of the financial services provider’s stock after acquiring an additional 19,585 shares during the period. Amalgamated Bank’s holdings in PNC Financial Services Group, Inc. (The) were worth $6,804,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 2,833.1% during the first 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 during the period. FMR LLC grew its position in shares of PNC Financial Services Group, Inc. (The) by 19.4% in the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock valued at $1,654,586,000 after purchasing an additional 2,239,716 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of PNC Financial Services Group, Inc. (The) by 240.4% in the second quarter. Principal Financial Group Inc. now owns 2,388,736 shares of the financial services provider’s stock valued at $298,281,000 after purchasing an additional 1,686,944 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of PNC Financial Services Group, Inc. (The) by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 12,752,413 shares of the financial services provider’s stock valued at $1,592,394,000 after purchasing an additional 875,164 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in shares of PNC Financial Services Group, Inc. (The) by 43,366.7% during the second quarter. Harbour Capital Advisors LLC now owns 798,918 shares of the financial services provider’s stock worth $6,398,000 after purchasing an additional 797,080 shares during the period. Hedge funds and other institutional investors own 80.80% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 134.77 on Monday. The company has a 50-day moving average price of $127.83 and a 200 day moving average price of $123.75. The firm has a market capitalization of $64.58 billion, a price-to-earnings ratio of 17.15 and a beta of 0.95. PNC Financial Services Group, Inc. has a 1-year low of $87.34 and a 1-year high of $135.73.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released 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. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations 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 company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 EPS. On average, equities research 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 approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Several analysts recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and issued a $136.00 price target 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 report on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $129.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, July 14th. Nomura lifted their target price on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a “neutral” rating in a report on Monday, July 17th. Finally, Robert W. Baird reissued a “buy” rating and set a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Sunday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. PNC Financial Services Group, Inc. (The) currently has an average rating of “Hold” and an average target price of $126.81.

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 filing with the SEC, which is available through 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 in the company, 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.

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.

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

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