Checchi Capital Advisers LLC Has $539,000 Stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Checchi Capital Advisers LLC cut its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,316 shares of the financial services provider’s stock after selling 87 shares during the quarter. Checchi Capital Advisers LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in PNC Financial Services Group, Inc. (The) by 2,833.1% in the first quarter. BlackRock Inc. now owns 27,133,914 shares of the financial services provider’s stock worth $3,262,582,000 after buying an additional 26,208,815 shares during the period. FMR LLC increased its position in PNC Financial Services Group, Inc. (The) by 19.4% in the first quarter. FMR LLC now owns 13,760,691 shares of the financial services provider’s stock worth $1,654,586,000 after buying an additional 2,239,716 shares during the period. APG Asset Management N.V. increased its position in PNC Financial Services Group, Inc. (The) by 275.3% in the first quarter. APG Asset Management N.V. now owns 1,626,728 shares of the financial services provider’s stock worth $195,598,000 after buying an additional 1,193,335 shares during the period. Harbour Capital Advisors LLC increased its position in PNC Financial Services Group, Inc. (The) by 43,366.7% in the second quarter. Harbour Capital Advisors LLC now owns 798,918 shares of the financial services provider’s stock worth $6,398,000 after buying an additional 797,080 shares during the period. Finally, First Trust Advisors LP increased its position in PNC Financial Services Group, Inc. (The) by 272.1% in the first quarter. First Trust Advisors LP now owns 855,203 shares of the financial services provider’s stock worth $102,830,000 after buying an additional 625,372 shares during the period. Hedge funds and other institutional investors own 81.18% of the company’s stock.

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In other 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 value of $641,550.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was 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 in the company, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

PNC has been the topic of a number of research analyst reports. Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Tuesday, July 4th. Royal Bank Of Canada reissued 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. BidaskClub raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. BMO Capital Markets reissued a “buy” rating and set a $134.00 price target on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, June 23rd. Finally, Rafferty Capital Markets raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $124.12.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) traded up 0.10% during midday trading on Friday, hitting $127.32. The stock had a trading volume of 801,217 shares. The company has a market capitalization of $61.01 billion, a PE ratio of 16.20 and a beta of 0.93. PNC Financial Services Group, Inc. has a one year low of $87.04 and a one year high of $133.26. The firm’s 50-day moving average is $127.69 and its 200 day moving average is $123.79.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued 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 business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 EPS. Equities analysts expect that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its board has approved 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 reacquire up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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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