UBS Asset Management Americas Inc. lifted its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,566,146 shares of the financial services provider’s stock after buying an additional 45,557 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.33% of PNC Financial Services Group, Inc. (The) worth $195,565,000 as of its most recent filing with the Securities & Exchange Commission.

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

In other news, 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 transaction of $3,048,835.95. Following the transaction, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction dated 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.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 134.18 on Wednesday. The company has a market capitalization of $64.30 billion, a P/E ratio of 17.08 and a beta of 0.95. The company’s 50-day moving average is $128.74 and its 200 day moving average is $124.29. 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 quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The company 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 firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has approved a share repurchase program 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 purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.24%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is presently 38.12%.

A number of equities research analysts have commented on PNC shares. Piper Jaffray Companies restated a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Wednesday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird reissued a “buy” rating and issued a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday. Finally, Instinet reissued a “neutral” rating and issued a $132.00 price objective (up from $129.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Saturday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $127.17.

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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.

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

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