PNC Financial Services Group Inc. cut its position in shares of PNC Financial Services Group Inc (NYSE:PNC) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,023,795 shares of the financial services provider’s stock after selling 92,975 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.48% of PNC Financial Services Group worth $212,923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in PNC Financial Services Group by 5.0% during the first quarter. JPMorgan Chase & Co. now owns 13,204,468 shares of the financial services provider’s stock worth $1,263,932,000 after purchasing an additional 627,213 shares during the period. Aristotle Capital Management LLC grew its position in shares of PNC Financial Services Group by 128.3% during the 1st quarter. Aristotle Capital Management LLC now owns 1,076,527 shares of the financial services provider’s stock valued at $103,045,000 after purchasing an additional 605,005 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in PNC Financial Services Group by 805.7% during the second quarter. Ensign Peak Advisors Inc now owns 584,014 shares of the financial services provider’s stock valued at $61,445,000 after buying an additional 519,529 shares during the period. Marshall Wace LLP lifted its position in PNC Financial Services Group by 42,415.7% during the second quarter. Marshall Wace LLP now owns 490,631 shares of the financial services provider’s stock valued at $51,619,000 after purchasing an additional 489,477 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its stake in PNC Financial Services Group by 29.4% during the first quarter. Bahl & Gaynor Inc. now owns 1,788,600 shares of the financial services provider’s stock worth $171,205,000 after purchasing an additional 406,045 shares during the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Shares of PNC stock traded up $2.40 on Wednesday, reaching $113.69. 114,333 shares of the company’s stock were exchanged, compared to its average volume of 2,821,983. The company’s fifty day simple moving average is $109.70 and its 200 day simple moving average is $106.26. The stock has a market capitalization of $47.24 billion, a PE ratio of 7.04, a P/E/G ratio of 4.71 and a beta of 1.26. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.89. PNC Financial Services Group Inc has a 52 week low of $79.41 and a 52 week high of $161.79.

PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, July 15th. The financial services provider reported ($1.90) earnings per share for the quarter, missing the consensus estimate of $0.88 by ($2.78). The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.08 billion. PNC Financial Services Group had a return on equity of 5.78% and a net margin of 35.52%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 earnings per share. As a group, sell-side analysts predict that PNC Financial Services Group Inc will post 3.36 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the company. Oppenheimer reissued a “hold” rating on shares of PNC Financial Services Group in a research note on Wednesday, July 15th. Odeon Capital Group raised PNC Financial Services Group from a “hold” rating to a “buy” rating in a research note on Friday, September 11th. Bank of America cut their price objective on shares of PNC Financial Services Group from $138.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Wells Fargo & Company upped their price target on PNC Financial Services Group from $121.00 to $148.00 in a research note on Friday, June 5th. Finally, Wolfe Research assumed coverage on shares of PNC Financial Services Group in a research note on Friday, July 31st. They issued an “underperform” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $122.92.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

Further Reading: Blue-Chip Stocks

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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