Fragasso Group Inc. increased its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,770 shares of the financial services provider’s stock after buying an additional 331 shares during the period. PNC Financial Services Group, Inc. (The) comprises approximately 0.7% of Fragasso Group Inc.’s holdings, making the stock its 18th biggest holding. Fragasso Group Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,219,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ropes Wealth Advisors LLC increased its stake in PNC Financial Services Group, Inc. (The) by 0.4% during the 1st quarter. Ropes Wealth Advisors LLC now owns 1,849 shares of the financial services provider’s stock worth $222,000 after buying an additional 8 shares during the period. Guardian Life Insurance Co. of America increased its stake in PNC Financial Services Group, Inc. (The) by 0.4% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,876 shares of the financial services provider’s stock worth $226,000 after buying an additional 8 shares during the period. Hudock Capital Group LLC increased its stake in PNC Financial Services Group, Inc. (The) by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock worth $336,000 after buying an additional 11 shares during the period. Telemus Capital LLC increased its stake in PNC Financial Services Group, Inc. (The) by 0.3% during the 2nd quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock worth $622,000 after buying an additional 16 shares during the period. Finally, Green Square Capital LLC increased its stake in PNC Financial Services Group, Inc. (The) by 0.4% during the 1st quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock worth $496,000 after buying an additional 18 shares during the period. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 133.43 on Friday. PNC Financial Services Group, Inc. has a 12-month low of $87.04 and a 12-month high of $133.56. The stock has a 50 day moving average of $127.83 and a 200 day moving average of $123.75. The firm has a market capitalization of $63.94 billion, a price-to-earnings ratio of 16.98 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the prior year, the company posted $1.82 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate 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 program on Wednesday, June 28th that permits the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Hannon sold 24,111 shares of the 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 completion of the transaction, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

Several research firms recently issued reports on PNC. Zacks Investment Research downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Thursday, June 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $129.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, July 14th. Nomura lifted their price target on shares of PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a “neutral” rating in a research note on Monday, July 17th. Finally, Instinet dropped their price target on shares of PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. PNC Financial Services Group, Inc. (The) has a consensus rating of “Hold” and a consensus target price of $126.02.

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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.

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

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