Parametric Portfolio Associates LLC lifted its stake in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 30.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,194,715 shares of the financial services provider’s stock after purchasing an additional 279,479 shares during the period. Parametric Portfolio Associates LLC owned about 0.25% of PNC Financial Services Group, Inc. (The) worth $149,184,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Honeywell International Inc. lifted its position in shares of 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 worth $19,530,000 after purchasing an additional 400 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of PNC Financial Services Group, Inc. (The) by 3.4% during the second quarter. Daiwa Securities Group Inc. now owns 15,346 shares of the financial services provider’s stock worth $1,916,000 after purchasing an additional 500 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of 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 worth $77,485,000 after purchasing an additional 70,962 shares during the last quarter. Davis Selected Advisers lifted its position in shares of PNC Financial Services Group, Inc. (The) by 1.7% during the second quarter. Davis Selected Advisers now owns 307,362 shares of the financial services provider’s stock worth $38,380,000 after purchasing an additional 5,262 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of PNC Financial Services Group, Inc. (The) by 3.0% during the second quarter. Legal & General Group Plc now owns 2,491,441 shares of the financial services provider’s stock worth $311,109,000 after purchasing an additional 72,775 shares during the last quarter. 80.80% of the stock is currently owned by institutional investors and hedge funds.

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Several equities analysts have recently commented on PNC shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Tuesday. BidaskClub lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Piper Jaffray Companies reiterated a “buy” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. 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. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $136.00 price objective (up previously from $130.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $127.75.

In other news, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total value of $3,048,835.95. Following the completion of the transaction, the insider now owns 83,931 shares in the company, valued at $10,613,074.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by insiders.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 135.69 on Friday. The stock has a market cap of $65.02 billion, a P/E ratio of 17.27 and a beta of 0.95. The firm has a 50-day moving average of $129.24 and a 200-day moving average of $124.53. PNC Financial Services Group, Inc. has a 52-week low of $87.34 and a 52-week high of $136.92.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 earnings per share. On average, equities analysts expect that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 38.12%.

PNC Financial Services Group, Inc. (The) declared 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 buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

PNC Financial Services Group, Inc. (The) 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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