PNC Financial Services Group, Inc. (The) (NYSE:PNC) Position Raised by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC grew its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 537,209 shares of the financial services provider’s stock after purchasing an additional 16,263 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.11% of PNC Financial Services Group, Inc. (The) worth $67,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Proficio Capital Partners LLC grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 1,365.4% during the second quarter. Proficio Capital Partners LLC now owns 762 shares of the financial services provider’s stock valued at $100,000 after buying an additional 710 shares during the last quarter. First Interstate Bank grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 34.0% during the first quarter. First Interstate Bank now owns 957 shares of the financial services provider’s stock valued at $115,000 after buying an additional 243 shares during the last quarter. Ledyard National Bank grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 6.3% during the second quarter. Ledyard National Bank now owns 1,257 shares of the financial services provider’s stock valued at $157,000 after buying an additional 75 shares during the last quarter. Jacobus Wealth Management Inc. grew its holdings in shares of PNC Financial Services Group, Inc. (The) by 3.7% during the first quarter. Jacobus Wealth Management Inc. now owns 1,494 shares of the financial services provider’s stock valued at $180,000 after buying an additional 53 shares during the last quarter. Finally, Doyle Wealth Management purchased a new stake in shares of PNC Financial Services Group, Inc. (The) during the second quarter valued at $203,000. 80.79% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.43% of the stock is currently owned by insiders.

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PNC Financial Services Group, Inc. (NYSE:PNC) traded up 0.79% on Wednesday, hitting $135.32. 584,180 shares of the company traded hands. PNC Financial Services Group, Inc. has a 12 month low of $87.97 and a 12 month high of $137.41. The stock’s 50-day moving average is $130.50 and its 200 day moving average is $125.20. The stock has a market cap of $64.85 billion, a PE ratio of 17.22 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.03. The firm had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.09 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.61% and a return on equity of 9.29%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 earnings per share. Equities research analysts expect that PNC Financial Services Group, Inc. will post $8.42 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, November 5th. Investors of record on Tuesday, October 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, October 16th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is currently 36.63%.

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 buy up to 4.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

A number of equities research analysts have recently weighed in on the stock. UBS AG boosted their price objective on shares of PNC Financial Services Group, Inc. (The) from $133.00 to $135.00 and gave the company a “neutral” rating in a report on Monday. Barclays PLC boosted their price objective on shares of PNC Financial Services Group, Inc. (The) from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday. Credit Suisse Group boosted their price objective on shares of PNC Financial Services Group, Inc. (The) from $135.00 to $137.00 and gave the company a “neutral” rating in a report on Monday. Piper Jaffray Companies boosted their price objective on shares of PNC Financial Services Group, Inc. (The) from $134.00 to $147.00 and gave the company an “overweight” rating in a report on Monday. Finally, Royal Bank Of Canada boosted their price objective on shares of PNC Financial Services Group, Inc. (The) from $130.00 to $145.00 and gave the company a “top pick” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. PNC Financial Services Group, Inc. (The) has an average rating of “Hold” and an average target price of $132.94.

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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