PNC Financial Services Group, Inc. (The) (PNC) Shares Sold by Worth Venture Partners LLC

Worth Venture Partners LLC trimmed its holdings in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,977 shares of the financial services provider’s stock after selling 200 shares during the period. Worth Venture Partners LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $372,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Honeywell International Inc. increased its holdings 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 valued at $19,530,000 after purchasing an additional 400 shares during the period. Daiwa Securities Group Inc. increased its holdings 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 valued at $1,916,000 after purchasing an additional 500 shares during the period. Canada Pension Plan Investment Board increased its holdings 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 valued at $77,485,000 after purchasing an additional 70,962 shares during the period. Davis Selected Advisers increased its holdings 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 valued at $38,380,000 after purchasing an additional 5,262 shares during the period. Finally, Legal & General Group Plc increased its holdings 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 valued at $311,109,000 after purchasing an additional 72,775 shares during the period. 80.80% of the stock is currently owned by institutional investors.

In related news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of PNC Financial Services Group, Inc. (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. Insiders own 0.43% of the company’s stock.

A number of research analysts have recently commented on PNC shares. Rafferty Capital Markets raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Monday, July 17th. BMO Capital Markets reissued a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Royal Bank Of Canada reissued a “buy” rating and set a $130.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Thursday, June 15th. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, eight have given 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 a consensus price target of $127.75.

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

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. The company 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 firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 earnings per share. Equities research analysts anticipate that PNC Financial Services Group, Inc. will post $8.41 EPS for the current year.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has approved 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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

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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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