MML Investors Services LLC trimmed its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,971 shares of the financial services provider’s stock after selling 362 shares during the quarter. MML Investors Services LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Proficio Capital Partners LLC boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 1,365.4% in the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 710 shares in the last quarter. First Interstate Bank boosted its holdings in shares of 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 boosted its holdings in shares of 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. boosted its holdings in shares of 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 acquired a new position in shares of PNC Financial Services Group, Inc. (The) in the 2nd quarter worth approximately $203,000. 80.80% of the stock is currently owned by institutional investors.

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction on 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 sale, the insider now directly owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (The) 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. Insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 134.27 on Thursday. The company has a market cap of $64.34 billion, a PE ratio of 17.09 and a beta of 0.95. The firm’s 50-day moving average price is $128.85 and its 200-day moving average price is $124.36. PNC Financial Services Group, Inc. has a 12-month low of $87.34 and a 12-month high of $135.73.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted 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. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The business’s revenue 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 earnings per share for the current fiscal year.

The business also recently declared 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 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is currently 38.12%.

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

TRADEMARK VIOLATION NOTICE: “MML Investors Services LLC Sells 362 Shares of PNC Financial Services Group, Inc. (The) (PNC)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/10/05/mml-investors-services-llc-sells-362-shares-of-pnc-financial-services-group-inc-the-pnc.html.

Several research analysts have issued reports on PNC shares. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Tuesday, July 4th. BMO Capital Markets reaffirmed 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. Royal Bank Of Canada reaffirmed a “buy” rating and set a $130.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Thursday, June 15th. Finally, Rafferty Capital Markets raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. PNC Financial Services Group, Inc. (The) has an average rating of “Hold” and a consensus price target of $127.17.

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)

Receive News & Stock Ratings for PNC Financial Services Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group Inc. (The) and related stocks with our FREE daily email newsletter.