PNC Financial Services Group, Inc. (The) (PNC) Holdings Lifted by Jennison Associates LLC

Jennison Associates LLC raised its holdings in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,918,302 shares of the financial services provider’s stock after acquiring an additional 19,613 shares during the period. Jennison Associates LLC owned about 0.40% of PNC Financial Services Group, Inc. (The) worth $239,538,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Everence Capital Management Inc. grew its position in PNC Financial Services Group, Inc. (The) by 21.7% in the second quarter. Everence Capital Management Inc. now owns 15,294 shares of the financial services provider’s stock valued at $1,910,000 after acquiring an additional 2,730 shares during the last quarter. ZWJ Investment Counsel Inc. grew its position in PNC Financial Services Group, Inc. (The) by 1.1% in the second quarter. ZWJ Investment Counsel Inc. now owns 84,240 shares of the financial services provider’s stock valued at $10,519,000 after acquiring an additional 941 shares during the last quarter. KDI Capital Partners LLC grew its position in PNC Financial Services Group, Inc. (The) by 23.3% in the second quarter. KDI Capital Partners LLC now owns 87,068 shares of the financial services provider’s stock valued at $10,872,000 after acquiring an additional 16,474 shares during the last quarter. Nippon Life Insurance Co. grew its position in PNC Financial Services Group, Inc. (The) by 5.4% in the second quarter. Nippon Life Insurance Co. now owns 19,793 shares of the financial services provider’s stock valued at $2,472,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Blair William & Co. IL grew its position in PNC Financial Services Group, Inc. (The) by 2.5% in the second quarter. Blair William & Co. IL now owns 21,716 shares of the financial services provider’s stock valued at $2,712,000 after acquiring an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

A number of research analysts have issued reports on the company. Wells Fargo & Company assumed coverage on PNC Financial Services Group, Inc. (The) in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $119.00 target price on the stock. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Deutsche Bank AG reissued a “buy” rating and set a $130.00 price target (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $124.12.

In other PNC Financial Services Group, Inc. (The) news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $3,048,835.95. Following the completion of the sale, the insider now owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 121.51 on Monday. The firm has a 50-day moving average price of $127.84 and a 200 day moving average price of $123.83. The firm has a market capitalization of $58.23 billion, a price-to-earnings ratio of 15.46 and a beta of 0.93. PNC Financial Services Group, Inc. has a 52 week low of $87.04 and a 52 week 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, topping the consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the business posted $1.82 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that PNC Financial Services Group, Inc. will post $8.39 earnings per share for the current fiscal year.

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

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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.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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