ProShare Advisors LLC reduced its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,219 shares of the financial services provider’s stock after selling 3,352 shares during the period. ProShare Advisors LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $14,762,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC increased its holdings in PNC Financial Services Group, Inc. (The) by 1,365.4% during the 2nd quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 710 shares during the period. First Interstate Bank lifted its stake in PNC Financial Services Group, Inc. (The) by 34.0% in the 1st quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 243 shares in the last quarter. Ledyard National Bank lifted its stake in PNC Financial Services Group, Inc. (The) by 6.3% in the 2nd quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 75 shares in the last quarter. Jacobus Wealth Management Inc. lifted its stake in PNC Financial Services Group, Inc. (The) by 3.7% in the 1st quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 53 shares in the last quarter. Finally, Doyle Wealth Management purchased a new stake in PNC Financial Services Group, Inc. (The) in the 2nd quarter worth approximately $203,000. 80.80% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (The) stock in a transaction that occurred on Wednesday, July 19th. The stock was 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 approximately $10,613,074.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the business’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 value of $641,550.00. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 135.12 on Tuesday. PNC Financial Services Group, Inc. has a one year low of $87.34 and a one year high of $135.73. The stock has a market capitalization of $64.75 billion, a PE ratio of 17.20 and a beta of 0.95. The company’s 50-day moving average price is $128.64 and its 200 day moving average price is $124.22.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 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 the consensus estimate 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 firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 EPS. Analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 EPS for the current year.

PNC Financial Services Group, Inc. (The) declared that its board has approved a stock repurchase program on Wednesday, June 28th that permits the company to buyback $2.70 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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PNC has been the topic of several research analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Thursday, June 8th. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $129.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, July 14th. Nomura boosted their target price on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a “neutral” rating in a research report on Monday, July 17th. Finally, Instinet restated a “neutral” rating and issued a $126.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $126.81.

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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