PNC Financial Services Group, Inc. (The) (NYSE:PNC) Position Increased by Alpha Windward LLC

Alpha Windward LLC raised its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 129.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,734 shares of the financial services provider’s stock after buying an additional 3,803 shares during the period. PNC Financial Services Group, Inc. (The) makes up about 0.5% of Alpha Windward LLC’s holdings, making the stock its 13th largest position. Alpha Windward LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $841,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Gulf International Bank UK Ltd increased its stake in shares of PNC Financial Services Group, Inc. (The) by 0.3% in the first quarter. Gulf International Bank UK Ltd now owns 152,845 shares of the financial services provider’s stock worth $18,378,000 after buying an additional 385 shares during the last quarter. Chesley Taft & Associates LLC acquired a new stake in shares of PNC Financial Services Group, Inc. (The) during the first quarter worth $1,055,000. Creative Planning increased its stake in shares of PNC Financial Services Group, Inc. (The) by 1.2% in the first quarter. Creative Planning now owns 22,435 shares of the financial services provider’s stock worth $2,698,000 after buying an additional 268 shares during the last quarter. CT Financial Advisors LLC increased its stake in shares of PNC Financial Services Group, Inc. (The) by 4.7% in the first quarter. CT Financial Advisors LLC now owns 1,858 shares of the financial services provider’s stock worth $223,000 after buying an additional 83 shares during the last quarter. Finally, Catawba Capital Management VA increased its stake in shares of PNC Financial Services Group, Inc. (The) by 0.3% in the first quarter. Catawba Capital Management VA now owns 20,641 shares of the financial services provider’s stock worth $2,482,000 after buying an additional 60 shares during the last quarter. 82.12% of the stock is owned by institutional investors.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.15% during midday trading on Friday, reaching $127.11. The company’s stock had a trading volume of 1,511,657 shares. PNC Financial Services Group, Inc. has a 12 month low of $85.09 and a 12 month high of $133.26. The company has a 50-day moving average price of $128.23 and a 200-day moving average price of $123.60. The firm has a market cap of $60.91 billion, a price-to-earnings ratio of 16.18 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the company posted $1.82 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts expect that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

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

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Monday, July 17th were paid a dividend of $0.75 per share. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s payout ratio is currently 38.12%.

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A number of equities research analysts have weighed in on the stock. Wells Fargo & Company assumed 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 for the company. Zacks Investment Research downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Deutsche Bank AG reissued a “buy” rating and issued a $130.00 price target (up from $120.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Tuesday, July 25th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $122.57.

In other news, insider Wyk Steven C. Van sold 5,000 shares of PNC Financial Services Group, Inc. (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 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 PNC Financial Services Group, Inc. (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 transaction, the insider now 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.

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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