Pinebridge Investments L.P. lessened its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,477 shares of the financial services provider’s stock after selling 871 shares during the quarter. PNC Financial Services Group, Inc. (The) comprises about 0.8% of Pinebridge Investments L.P.’s investment portfolio, making the stock its 23rd largest position. Pinebridge Investments L.P. owned approximately 0.05% of PNC Financial Services Group, Inc. (The) worth $32,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Asset Management Americas Inc. lifted its stake in shares of PNC Financial Services Group, Inc. (The) by 3.0% during the second quarter. UBS Asset Management Americas Inc. now owns 1,566,146 shares of the financial services provider’s stock valued at $195,565,000 after acquiring an additional 45,557 shares during the period. Mutual of America Capital Management LLC lifted its stake in shares of PNC Financial Services Group, Inc. (The) by 2.4% during the second quarter. Mutual of America Capital Management LLC now owns 78,109 shares of the financial services provider’s stock valued at $9,753,000 after acquiring an additional 1,833 shares during the period. BRYN MAWR TRUST Co lifted its stake in shares of PNC Financial Services Group, Inc. (The) by 2.4% during the second quarter. BRYN MAWR TRUST Co now owns 27,440 shares of the financial services provider’s stock valued at $3,426,000 after acquiring an additional 635 shares during the period. Thrivent Financial For Lutherans lifted its stake in shares of PNC Financial Services Group, Inc. (The) by 2.9% during the second quarter. Thrivent Financial For Lutherans now owns 18,354 shares of the financial services provider’s stock valued at $2,292,000 after acquiring an additional 510 shares during the period. Finally, Sandy Spring Bank lifted its stake in shares of PNC Financial Services Group, Inc. (The) by 1.7% during the second quarter. Sandy Spring Bank now owns 9,345 shares of the financial services provider’s stock valued at $1,167,000 after acquiring an additional 154 shares during the period. 80.80% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on PNC shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday. BidaskClub lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $136.00 price target (up previously from $130.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $127.17.

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Shares of PNC Financial Services Group, Inc. (NYSE PNC) opened at 134.27 on Thursday. PNC Financial Services Group, Inc. has a one year low of $87.34 and a one year high of $135.73. The firm has a 50 day moving average price of $128.85 and a 200 day moving average price of $124.36. The company has a market capitalization of $64.34 billion, a P/E ratio of 17.09 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate 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 was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 EPS. On average, equities research analysts predict 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 approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.70 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders 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 2.23%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is 38.12%.

In related news, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through this link. 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 value of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

About PNC Financial Services Group, Inc. (The)

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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