AHL Partners LLP cut its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 21.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,429 shares of the financial services provider’s stock after selling 4,847 shares during the quarter. AHL Partners LLP’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,176,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PNC. Empire Life Investments Inc. purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at about $4,446,000. Engineers Gate Manager LP lifted its position in shares of PNC Financial Services Group, Inc. (The) by 262.1% during the first quarter. Engineers Gate Manager LP now owns 7,966 shares of the financial services provider’s stock valued at $958,000 after buying an additional 5,766 shares during the last quarter. First Personal Financial Services lifted its position in shares of PNC Financial Services Group, Inc. (The) by 10.1% during the first quarter. First Personal Financial Services now owns 3,979 shares of the financial services provider’s stock valued at $478,000 after buying an additional 366 shares during the last quarter. Commerce Bank lifted its position in shares of PNC Financial Services Group, Inc. (The) by 28.4% during the first quarter. Commerce Bank now owns 15,542 shares of the financial services provider’s stock valued at $1,869,000 after buying an additional 3,438 shares during the last quarter. Finally, Denver Investment Advisors LLC purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter valued at about $221,000. 80.80% of the stock is owned by institutional investors.

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In other news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 83,931 shares in the company, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 135.27 on Friday. PNC Financial Services Group, Inc. has a 52 week low of $87.59 and a 52 week high of $137.41. The stock’s 50 day moving average is $130.25 and its 200-day moving average is $125.02. The firm has a market cap of $64.82 billion, a PE ratio of 17.21 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Thursday, October 12th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.03. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.09 billion. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 earnings per share. On average, equities analysts predict that PNC Financial Services Group, Inc. will post $8.40 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 38.12%.

PNC Financial Services Group, Inc. (The) declared that its board has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Several analysts have commented on PNC shares. Rafferty Capital Markets raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. BMO Capital Markets reissued a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, June 23rd. Royal Bank Of Canada reissued a “buy” rating and set a $130.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Thursday, June 15th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Zacks Investment Research raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $129.26.

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)

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