PNC Financial Services Group, Inc. (The) (NYSE:PNC) Shares Sold by Pioneer Investment Management Inc.

Pioneer Investment Management Inc. decreased its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 31.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,715,410 shares of the financial services provider’s stock after selling 782,793 shares during the period. Pioneer Investment Management Inc. owned 0.36% of PNC Financial Services Group, Inc. (The) worth $214,203,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Honeywell International Inc. boosted its stake in 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 worth $19,530,000 after buying an additional 400 shares during the period. Advisory Services Network LLC purchased a new position in PNC Financial Services Group, Inc. (The) during the first quarter worth $539,000. Usca Ria LLC purchased a new position in PNC Financial Services Group, Inc. (The) during the first quarter worth $376,000. HPM Partners LLC purchased a new position in PNC Financial Services Group, Inc. (The) during the first quarter worth $362,000. Finally, Bbva Compass Bancshares Inc. boosted its stake in PNC Financial Services Group, Inc. (The) by 19.7% during the second quarter. Bbva Compass Bancshares Inc. now owns 31,233 shares of the financial services provider’s stock worth $3,899,000 after buying an additional 5,142 shares during the period. Hedge funds and other institutional investors own 81.18% of the company’s stock.

In other PNC Financial Services Group, Inc. (The) news, insider Wyk Steven C. Van sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were 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 accessible through this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly 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. Insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (PNC) opened at 128.19 on Friday. The stock has a market cap of $61.43 billion, a PE ratio of 16.31 and a beta of 0.93. The stock has a 50 day moving average price of $127.70 and a 200 day moving average price of $123.79. 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 posted 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 net margin of 24.50% and a return on equity of 9.17%. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the company posted $1.82 EPS. PNC Financial Services Group, Inc. (The)’s revenue was up 7.0% on a year-over-year basis. On average, equities 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 initiated a share buyback plan on Wednesday, June 28th that permits the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “PNC Financial Services Group, Inc. (The) (NYSE:PNC) Shares Sold by Pioneer Investment Management Inc.” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://ledgergazette.com/2017/09/17/pnc-financial-services-group-inc-the-pnc-stake-cut-by-pioneer-investment-management-inc.html.

PNC has been the subject of a number of recent analyst reports. BidaskClub lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Piper Jaffray Companies reiterated a “buy” rating and issued a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research report on Sunday, August 27th. Zacks Investment Research lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Rafferty Capital Markets upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research report on Monday, July 17th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $126.00 target price (up previously from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a research report on Monday, July 17th. Two equities research 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 has a consensus rating of “Hold” and an average target price of $124.12.

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)

Receive News & Ratings for PNC Financial Services Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply