Proficio Capital Partners LLC Has $100,000 Stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Proficio Capital Partners LLC lifted its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1,365.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 762 shares of the financial services provider’s stock after purchasing an additional 710 shares during the quarter. Proficio Capital Partners LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schmidt P J Investment Management Inc. grew its position in PNC Financial Services Group, Inc. (The) by 0.5% in the first quarter. Schmidt P J Investment Management Inc. now owns 51,557 shares of the financial services provider’s stock valued at $6,199,000 after acquiring an additional 273 shares during the period. Argyle Capital Management Inc. grew its position in PNC Financial Services Group, Inc. (The) by 49.8% in the first quarter. Argyle Capital Management Inc. now owns 6,016 shares of the financial services provider’s stock valued at $723,000 after acquiring an additional 2,000 shares during the period. Security National Trust Co. grew its position in PNC Financial Services Group, Inc. (The) by 3.2% in the first quarter. Security National Trust Co. now owns 3,727 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 115 shares during the period. Dowling & Yahnke LLC grew its position in PNC Financial Services Group, Inc. (The) by 1.5% in the first quarter. Dowling & Yahnke LLC now owns 22,610 shares of the financial services provider’s stock valued at $2,719,000 after acquiring an additional 343 shares during the period. Finally, Wetherby Asset Management Inc. grew its position in PNC Financial Services Group, Inc. (The) by 10.4% in the first quarter. Wetherby Asset Management Inc. now owns 11,137 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 1,045 shares during the period. Institutional investors and hedge funds own 80.80% of the company’s stock.

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In other news, insider Michael J. Hannon sold 24,111 shares of the business’s stock in a transaction dated 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 directly owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $641,550.00. The disclosure for this sale can be found here. Insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (NYSE PNC) opened at 133.43 on Friday. The firm has a 50-day moving average price of $127.83 and a 200 day moving average price of $123.75. PNC Financial Services Group, Inc. has a 1-year low of $87.04 and a 1-year high of $133.56. The firm has a market cap of $63.94 billion, a price-to-earnings ratio of 16.98 and a beta of 0.93.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the company posted $1.82 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Equities analysts predict that PNC Financial Services Group, Inc. will post $8.41 earnings per share for the current year.

PNC Financial Services Group, Inc. (The) declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.70 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of analysts have weighed in on the company. Zacks Investment Research cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Thursday, June 8th. Keefe, Bruyette & Woods restated a “hold” rating and set a $129.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, July 14th. Nomura increased their target price on PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a “neutral” rating in a report on Monday, July 17th. Finally, Instinet decreased their target price on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $124.32.

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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