Tudor Investment Corp ET AL cut its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 43.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,974 shares of the financial services provider’s stock after selling 9,795 shares during the period. Tudor Investment Corp ET AL’s holdings in PNC Financial Services Group, Inc. (The) were worth $1,620,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Proficio Capital Partners LLC grew its stake 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 valued at $100,000 after buying an additional 710 shares during the period. First Interstate Bank boosted its stake in PNC Financial Services Group, Inc. (The) by 34.0% during the 1st quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 243 shares during the last quarter. Ledyard National Bank boosted its stake in PNC Financial Services Group, Inc. (The) by 6.3% during the 2nd quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 75 shares during the last quarter. Jacobus Wealth Management Inc. boosted its stake in PNC Financial Services Group, Inc. (The) by 3.7% during the 1st quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 53 shares during the last quarter. Finally, Doyle Wealth Management acquired a new position in PNC Financial Services Group, Inc. (The) during the 2nd quarter valued at about $203,000. Institutional investors own 80.80% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Tudor Investment Corp ET AL Trims Stake in PNC Financial Services Group, Inc. (The) (PNC)” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/10/11/tudor-investment-corp-et-al-trims-stake-in-pnc-financial-services-group-inc-the-pnc.html.

A number of equities analysts have issued reports on the company. J P Morgan Chase & Co reiterated an “overweight” rating and set a $139.50 price target (up previously from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, October 6th. Citigroup Inc. reiterated a “neutral” rating and set a $144.00 price target (up previously from $125.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday. Zacks Investment Research upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research note on Tuesday. Instinet reiterated a “neutral” rating and set a $132.00 price target (up previously from $129.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Saturday, September 30th. Finally, Robert W. Baird reiterated a “buy” rating and set a $135.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, October 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $129.26.

PNC Financial Services Group, Inc. (PNC) opened at 136.72 on Wednesday. The stock’s 50 day moving average is $129.77 and its 200-day moving average is $124.86. PNC Financial Services Group, Inc. has a 52-week low of $87.34 and a 52-week high of $136.92. The stock has a market capitalization of $65.52 billion, a price-to-earnings ratio of 17.40 and a beta of 0.95.

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, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.08. The business 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 net margin of 24.50% and a return on equity of 9.17%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $1.82 earnings per share. Equities research analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders 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 annualized dividend and a dividend yield of 2.19%. PNC Financial Services Group, Inc. (The)’s payout ratio is 38.12%.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved a stock 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 repurchase up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the firm’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 sale, the insider now owns 83,931 shares in the company, valued at $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group, Inc. (The) (NYSE:PNC).

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.