Boys Arnold & Co. Inc. Sells 300 Shares of PNC Financial Services Group, Inc. (The) (PNC)

Boys Arnold & Co. Inc. cut its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 7.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the financial services provider’s stock after selling 300 shares during the period. Boys Arnold & Co. Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 2,833.1% during the 1st quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock worth $3,262,582,000 after purchasing an additional 26,208,815 shares in the last quarter. FMR LLC raised its stake in shares of PNC Financial Services Group, Inc. (The) by 19.4% during the 1st quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock worth $1,654,586,000 after purchasing an additional 2,239,716 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of PNC Financial Services Group, Inc. (The) by 0.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,268,778 shares of the financial services provider’s stock worth $1,114,478,000 after purchasing an additional 59,832 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of PNC Financial Services Group, Inc. (The) by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 5,951,738 shares of the financial services provider’s stock worth $715,638,000 after purchasing an additional 69,815 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of PNC Financial Services Group, Inc. (The) by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 5,177,579 shares of the financial services provider’s stock worth $646,524,000 after purchasing an additional 746,102 shares in the last quarter. 81.18% of the stock is owned by institutional investors.

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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Friday, July 28th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Robert W. Baird reissued a “buy” rating and set a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, August 28th. Keefe, Bruyette & Woods set a $125.00 price objective on PNC Financial Services Group, Inc. (The) and gave the company a “hold” rating in a report on Friday, May 19th. Finally, Instinet reissued a “neutral” rating and set a $126.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $124.12.

In related news, insider Michael J. Hannon sold 24,111 shares of 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 transaction of $3,048,835.95. Following the sale, the insider now owns 83,931 shares of the company’s stock, valued at $10,613,074.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was 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. Corporate insiders own 0.43% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 128.19 on Friday. PNC Financial Services Group, Inc. has a one year low of $87.04 and a one year high of $133.26. The stock’s 50 day moving average price is $127.70 and its 200 day moving average price is $123.79. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of 16.31 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.08. The business had revenue of $4.06 billion for 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 firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 earnings per share. On average, equities 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 of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is 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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