PNC Financial Services Group, Inc. (The) (PNC) Position Reduced by 1st Global Advisors Inc.

1st Global Advisors Inc. lowered its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 80.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,782 shares of the financial services provider’s stock after selling 15,550 shares during the quarter. 1st Global Advisors Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in PNC. Honeywell International Inc. increased its position in PNC Financial Services Group, Inc. (The) by 0.3% during the 2nd quarter. Honeywell International Inc. now owns 156,400 shares of the financial services provider’s stock valued at $19,530,000 after purchasing an additional 400 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 20.5% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 7,253 shares of the financial services provider’s stock worth $906,000 after buying an additional 1,235 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 3.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 15,346 shares of the financial services provider’s stock worth $1,916,000 after buying an additional 500 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 12.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 620,524 shares of the financial services provider’s stock worth $77,485,000 after buying an additional 70,962 shares in the last quarter. Finally, Davis Selected Advisers boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 1.7% during the 2nd quarter. Davis Selected Advisers now owns 307,362 shares of the financial services provider’s stock worth $38,380,000 after buying an additional 5,262 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

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PNC Financial Services Group, Inc. (NYSE PNC) traded up 0.34% during mid-day trading on Friday, reaching $138.32. The company had a trading volume of 519,630 shares. The firm has a 50-day moving average of $132.50 and a 200 day moving average of $126.11. PNC Financial Services Group, Inc. has a 1-year low of $94.30 and a 1-year high of $139.23. The company has a market capitalization of $65.84 billion, a PE ratio of 16.91 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.03. PNC Financial Services Group, Inc. (The) had a return on equity of 9.29% and a net margin of 24.61%. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the firm posted $1.84 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts predict that PNC Financial Services Group, Inc. will post $8.43 earnings per share for the current fiscal year.

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 paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is 36.63%.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $135.00, for a total transaction of $675,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.43% of the stock is currently owned by corporate insiders.

A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Friday, July 28th. Nomura increased their target price on PNC Financial Services Group, Inc. (The) from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Robert W. Baird reiterated a “buy” rating and issued a $135.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $139.50 price objective (up from $138.50) on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $133.85.

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.

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

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