Louisiana State Employees Retirement System decreased its position in shares of PNC Financial Services Group Inc. (NYSE:PNC) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,800 shares of the company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in PNC Financial Services Group were worth $2,670,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. PGGM Investments raised its position in PNC Financial Services Group by 2.5% in the first quarter. PGGM Investments now owns 348,040 shares of the company’s stock worth $29,434,000 after buying an additional 8,453 shares during the period. Cornerstone Investment Partners LLC raised its stake in PNC Financial Services Group by 2.8% in the first quarter. Cornerstone Investment Partners LLC now owns 1,121,840 shares of the company’s stock worth $94,874,000 after buying an additional 30,102 shares during the last quarter. Boston Advisors LLC raised its stake in PNC Financial Services Group by 0.4% in the first quarter. Boston Advisors LLC now owns 162,900 shares of the company’s stock worth $13,776,000 after buying an additional 609 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in PNC Financial Services Group during the first quarter worth approximately $254,000. Finally, Woodley Farra Manion Portfolio Management Inc. raised its stake in PNC Financial Services Group by 0.3% in the first quarter. Woodley Farra Manion Portfolio Management Inc. now owns 125,513 shares of the company’s stock worth $10,615,000 after buying an additional 335 shares during the last quarter. 80.25% of the stock is owned by institutional investors.

Shares of PNC Financial Services Group Inc. (NYSE:PNC) traded up 0.81% during midday trading on Monday, reaching $90.11. The company’s stock had a trading volume of 1,922,674 shares. PNC Financial Services Group Inc. has a 52 week low of $77.40 and a 52 week high of $97.50. The stock has a market capitalization of $44.28 billion, a PE ratio of 12.43 and a beta of 0.88. The company has a 50 day moving average price of $87.21 and a 200-day moving average price of $85.61.

PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Friday, July 15th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.07. The company had revenue of $3.79 billion for the quarter. PNC Financial Services Group had a return on equity of 9.22% and a net margin of 24.32%. PNC Financial Services Group’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 earnings per share. On average, equities research analysts expect that PNC Financial Services Group Inc. will post $7.10 EPS for the current year.

A number of research firms have commented on PNC. Wells Fargo & Co. reissued a “hold” rating on shares of PNC Financial Services Group in a report on Saturday, July 9th. Deutsche Bank AG reissued a “buy” rating on shares of PNC Financial Services Group in a report on Wednesday, June 29th. Vetr lowered PNC Financial Services Group from a “strong-buy” rating to a “buy” rating and set a $99.22 target price for the company. in a report on Tuesday, May 24th. Credit Suisse Group AG reissued a “hold” rating on shares of PNC Financial Services Group in a report on Tuesday, July 12th. Finally, Argus began coverage on PNC Financial Services Group in a report on Monday, July 18th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $96.50.

In other news, Director Daniel Hesse bought 500 shares of the stock in a transaction dated Thursday, July 21st. The shares were acquired at an average cost of $82.44 per share, with a total value of $41,220.00. Following the purchase, the director now directly owns 1,100 shares in the company, valued at approximately $90,684. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael J. Hannon sold 33,000 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $86.49, for a total transaction of $2,854,170.00. Following the sale, the insider now directly owns 87,573 shares in the company, valued at $7,574,188.77. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc (PNC) is a diversified financial services company in the United States. The Company operates through six segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.

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