Hunter Associates Investment Management LLC maintained its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,980 shares of the financial services provider’s stock at the close of the 2nd quarter. Hunter Associates Investment Management LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $1,121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ropes Wealth Advisors LLC boosted its stake in shares of 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 valued at $222,000 after purchasing an additional 8 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of 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 valued at $226,000 after purchasing an additional 8 shares in the last quarter. Hudock Capital Group LLC boosted its stake in shares of 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 valued at $336,000 after purchasing an additional 11 shares in the last quarter. Telemus Capital LLC boosted its stake in shares of 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 valued at $622,000 after purchasing an additional 16 shares in the last quarter. Finally, Green Square Capital LLC boosted its stake in shares of 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 valued at $496,000 after purchasing an additional 18 shares in the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

PNC has been the topic of a number of research reports. Zacks Investment Research lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Instinet lowered their price target on shares of PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, June 30th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. 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. Finally, Wells Fargo & Company initiated coverage on shares of PNC Financial Services Group, Inc. (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $119.00 price target for the company. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. PNC Financial Services Group, Inc. (The) presently has an average rating of “Hold” and a consensus price target of $127.17.

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In other news, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 83,931 shares in the company, valued at $10,613,074.95. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 135.54 on Friday. The stock has a market capitalization of $64.95 billion, a PE ratio of 17.25 and a beta of 0.95. PNC Financial Services Group, Inc. has a one year low of $87.34 and a one year high of $136.13. The firm has a 50-day moving average of $129.00 and a 200 day moving average of $124.44.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share 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 business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the business earned $1.82 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current fiscal year.

PNC Financial Services Group, Inc. (The) announced that its board has authorized a share repurchase plan 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 purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The company also recently declared 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 2.21%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 38.12%.

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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