Woodley Farra Manion Portfolio Management Inc. raised its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 10.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,032 shares of the financial services provider’s stock after acquiring an additional 14,911 shares during the period. PNC Financial Services Group, Inc. (The) makes up about 2.6% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 22nd biggest holding. Woodley Farra Manion Portfolio Management Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $20,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Proficio Capital Partners LLC raised its holdings in 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 valued at $100,000 after acquiring an additional 710 shares in the last quarter. First Interstate Bank raised 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 valued at $115,000 after acquiring an additional 243 shares in the last quarter. Ledyard National Bank raised 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 valued at $157,000 after acquiring an additional 75 shares in the last quarter. Jacobus Wealth Management Inc. raised 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 valued at $180,000 after acquiring an additional 53 shares in the last quarter. Finally, Doyle Wealth Management acquired a new position in PNC Financial Services Group, Inc. (The) in the 2nd quarter valued at $203,000. 80.80% of the stock is owned by hedge funds and other institutional investors.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 135.54 on Friday. The company’s 50-day moving average price is $129.00 and its 200-day moving average price is $124.44. The company has a market cap of $64.95 billion, a price-to-earnings ratio of 17.25 and a beta of 0.95. PNC Financial Services Group, Inc. has a 12 month low of $87.34 and a 12 month high of $136.13.

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 Zacks’ 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 business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 EPS for the current year.

PNC Financial Services Group, Inc. (The) announced that its board has authorized a share buyback plan 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 reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Sunday, November 5th. Shareholders of record on Tuesday, October 17th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, October 16th. This represents a $3.00 dividend on an annualized basis and a yield of 2.21%. PNC Financial Services Group, Inc. (The)’s payout ratio is 38.12%.

Several equities analysts have weighed in on the company. Stephens cut PNC Financial Services Group, Inc. (The) from an “overweight” rating to an “equal weight” rating in a report on Thursday. They noted that the move was a valuation call. Credit Suisse Group AG reiterated a “hold” rating and issued a $126.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Wednesday. Piper Jaffray Companies reiterated a “buy” rating and issued a $134.00 price target 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 note on Tuesday. Finally, Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $127.17.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 83,931 shares in the company, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

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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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