PNC Financial Services Group, Inc. (The) (PNC) Shares Bought by Aperio Group LLC

Aperio Group LLC increased its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 10.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 259,650 shares of the financial services provider’s stock after buying an additional 24,296 shares during the period. Aperio Group LLC owned about 0.05% of PNC Financial Services Group, Inc. (The) worth $32,422,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. First Interstate Bank boosted its position in shares of PNC Financial Services Group, Inc. (The) by 34.0% in the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock worth $115,000 after buying an additional 243 shares in the last quarter. Ledyard National Bank boosted its position in shares of PNC Financial Services Group, Inc. (The) by 532.1% in the first quarter. Ledyard National Bank now owns 1,182 shares of the financial services provider’s stock worth $142,000 after buying an additional 995 shares in the last quarter. Pinnacle Bank bought a new position in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $157,000. Quadrant Capital Group LLC boosted its position in PNC Financial Services Group, Inc. (The) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 1,413 shares of the financial services provider’s stock valued at $162,000 after buying an additional 39 shares during the period. Finally, Jacobus Wealth Management Inc. boosted its position in PNC Financial Services Group, Inc. (The) by 3.7% in the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after buying an additional 53 shares during the period. Institutional investors own 82.12% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.15% during mid-day trading on Friday, hitting $127.11. The stock had a trading volume of 1,511,657 shares. The company has a market cap of $60.91 billion, a P/E ratio of 16.18 and a beta of 0.93. The company has a 50-day moving average price of $128.23 and a 200 day moving average price of $123.60. PNC Financial Services Group, Inc. has a 1-year low of $85.09 and a 1-year high of $133.26.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings data 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 firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same period last year, the firm earned $1.82 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts forecast that PNC Financial Services Group, Inc. will post $8.38 EPS for the current fiscal year.

PNC Financial Services Group, Inc. (The) announced that its board has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were given a dividend of $0.75 per share. This is a positive change from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is presently 38.12%.

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Several research firms recently commented on PNC. Jefferies Group LLC reiterated a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Thursday, June 8th. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $129.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, July 14th. Nomura boosted their price objective on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the company a “neutral” rating in a report on Monday, July 17th. Finally, Instinet lowered their target price on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, June 30th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $122.57.

In related 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 transaction of $641,550.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the insider now directly 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 owned by company insiders.

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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