PNC Financial Services Group, Inc. (The) (PNC) Stake Raised by Federated Investors Inc. PA

Federated Investors Inc. PA increased its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 27.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 703,058 shares of the financial services provider’s stock after purchasing an additional 153,251 shares during the period. Federated Investors Inc. PA owned 0.15% of PNC Financial Services Group, Inc. (The) worth $87,790,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PNC. Advisory Services Network LLC purchased a new stake in PNC Financial Services Group, Inc. (The) during the first quarter valued at about $539,000. Honeywell International Inc. grew its position in PNC Financial Services Group, Inc. (The) by 0.3% during the second quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock valued at $19,530,000 after acquiring an additional 400 shares during the period. Canada Pension Plan Investment Board grew its position in PNC Financial Services Group, Inc. (The) by 12.9% during the second quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock valued at $77,485,000 after acquiring an additional 70,962 shares during the period. HPM Partners LLC purchased a new stake in PNC Financial Services Group, Inc. (The) during the first quarter valued at about $362,000. Finally, Bbva Compass Bancshares Inc. grew its position in PNC Financial Services Group, Inc. (The) by 19.7% during the second quarter. Bbva Compass Bancshares Inc. now owns 31,233 shares of the financial services provider’s stock valued at $3,899,000 after acquiring an additional 5,142 shares during the period. 81.18% of the stock is owned by institutional investors and hedge funds.

In other news, insider Michael J. Hannon sold 24,111 shares of the firm’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 sale, the insider now directly owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’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. Company insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (PNC) opened at 123.77 on Tuesday. PNC Financial Services Group, Inc. has a 1-year low of $87.04 and a 1-year high of $133.26. The company has a 50 day moving average price of $127.89 and a 200 day moving average price of $123.74. The firm has a market cap of $59.31 billion, a PE ratio of 15.75 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 last year, the business posted $1.82 earnings per share. On average, equities research analysts forecast that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current year.

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

PNC has been the subject of a number of research reports. Keefe, Bruyette & Woods set a $125.00 price target on PNC Financial Services Group, Inc. (The) and gave the company a “hold” rating in a research report on Friday, May 19th. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Jefferies Group LLC reissued a “hold” rating and set a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Thursday, June 8th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $124.12.

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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.

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Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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