PNC Financial Services Group, Inc. (The) (PNC) Stake Decreased by Williams Jones & Associates LLC

Williams Jones & Associates LLC reduced its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,231 shares of the financial services provider’s stock after selling 1,178 shares during the period. Williams Jones & Associates LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $7,521,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 0.4% in 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 buying an additional 8 shares in the last quarter. Hudock Capital Group LLC boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 2,692 shares of the financial services provider’s stock valued at $336,000 after buying an additional 11 shares in the last quarter. Telemus Capital LLC boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 0.3% in the 2nd quarter. Telemus Capital LLC now owns 4,981 shares of the financial services provider’s stock valued at $622,000 after buying an additional 16 shares in the last quarter. Green Square Capital LLC boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 0.4% in the 1st quarter. Green Square Capital LLC now owns 4,129 shares of the financial services provider’s stock valued at $496,000 after buying an additional 18 shares in the last quarter. Finally, Abner Herrman & Brock LLC boosted its holdings in shares of PNC Financial Services Group, Inc. (The) by 0.7% in the 2nd quarter. Abner Herrman & Brock LLC now owns 2,899 shares of the financial services provider’s stock valued at $362,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 80.80% of the company’s stock.

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

PNC Financial Services Group, Inc. (PNC) opened at 136.49 on Thursday. The firm’s 50-day moving average is $130.03 and its 200-day moving average is $124.94. PNC Financial Services Group, Inc. has a 52-week low of $87.34 and a 52-week high of $136.92. The stock has a market capitalization of $65.41 billion, a price-to-earnings ratio of 17.37 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.08. The business 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 return on equity of 9.17% and a net margin of 24.50%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 earnings per share. Analysts predict 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 of Directors has authorized a stock buyback 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 38.12%.

PNC has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report 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 on the stock in a report on Friday, June 30th. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. BMO Capital Markets restated a “buy” rating and issued a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Finally, Wells Fargo & Company initiated coverage on shares of PNC Financial Services Group, Inc. (The) in a report on Wednesday, August 9th. They issued a “market perform” rating and a $119.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, nine 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 an average price target of $129.26.

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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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