Nationwide Fund Advisors reduced its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 515,234 shares of the financial services provider’s stock after selling 21,050 shares during the quarter. Nationwide Fund Advisors owned 0.11% of PNC Financial Services Group, Inc. (The) worth $64,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Honeywell International Inc. boosted its position in shares of PNC Financial Services Group, Inc. (The) by 0.3% during the 2nd quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock valued at $19,530,000 after acquiring an additional 400 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 3.4% during the second quarter. Daiwa Securities Group Inc. now owns 15,346 shares of the financial services provider’s stock worth $1,916,000 after purchasing an additional 500 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 12.9% during the second quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock worth $77,485,000 after purchasing an additional 70,962 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 3.0% during the second quarter. Legal & General Group Plc now owns 2,491,441 shares of the financial services provider’s stock worth $311,109,000 after purchasing an additional 72,775 shares in the last quarter. Finally, Andra AP fonden grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 13.8% during the second quarter. Andra AP fonden now owns 47,900 shares of the financial services provider’s stock worth $5,981,000 after purchasing an additional 5,800 shares in the last quarter. Institutional investors and hedge funds own 80.80% of the company’s stock.

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction 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 owns 83,931 shares in the company, valued at $10,613,074.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 134.77 on Monday. The firm has a 50-day moving average of $127.83 and a 200-day moving average of $123.75. The company has a market cap 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 one year low of $87.34 and a one year high of $135.73.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts forecast that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

PNC has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Friday, July 28th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Robert W. Baird reissued a “buy” rating and issued a $135.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. Instinet restated a “neutral” rating and set a $126.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, July 12th. Finally, Nomura raised their price objective on shares of PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the company a “neutral” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $126.81.

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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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