Lowe Brockenbrough & Co. Inc. Sells 964 Shares of PNC Financial Services Group, Inc. (The) (PNC)

Lowe Brockenbrough & Co. Inc. lowered its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,282 shares of the financial services provider’s stock after selling 964 shares during the period. PNC Financial Services Group, Inc. (The) makes up approximately 1.3% of Lowe Brockenbrough & Co. Inc.’s holdings, making the stock its 24th largest position. Lowe Brockenbrough & Co. Inc.’s holdings in PNC Financial Services Group, Inc. (The) were worth $7,970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Creative Planning increased its position in 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 in the last quarter. Chesley Taft & Associates LLC purchased a new position in PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $1,055,000. Gulf International Bank UK Ltd increased its position in 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 in the last quarter. Dynamic Advisors Solutions LLC purchased a new position in PNC Financial Services Group, Inc. (The) during the first quarter worth approximately $245,000. Finally, Quadrant Capital Group LLC increased its position in PNC Financial Services Group, Inc. (The) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 1,413 shares of the financial services provider’s stock worth $162,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 82.12% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 127.11 on Friday. The firm has a market cap of $60.91 billion, a P/E ratio of 16.18 and a beta of 0.93. The firm has a 50-day moving average price of $128.23 and a 200 day moving average price of $123.60. PNC Financial Services Group, Inc. has a one year low of $85.09 and a one year high of $133.26.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.08. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations 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 business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. On average, analysts forecast that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current fiscal year.

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

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has initiated a share repurchase 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

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A number of research analysts have recently commented on PNC shares. Keefe, Bruyette & Woods set a $125.00 target price on PNC Financial Services Group, Inc. (The) and gave the company a “hold” rating in a research report on Friday, May 19th. Zacks Investment Research downgraded PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Jefferies Group LLC restated a “hold” rating and set a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Thursday, June 8th. BidaskClub upgraded PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada restated 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. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $122.57.

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 transaction of $641,550.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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. 0.43% of the stock is currently owned by company insiders.

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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