PNC Financial Services Group, Inc. (The) (PNC) Shares Bought by Flinton Capital Management LLC

Flinton Capital Management LLC boosted its position in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 29.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,992 shares of the financial services provider’s stock after buying an additional 3,856 shares during the period. Flinton Capital Management LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $2,122,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PNC. Proficio Capital Partners LLC increased its position in PNC Financial Services Group, Inc. (The) by 1,365.4% in the 2nd 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 in the last quarter. First Interstate Bank increased its position in PNC Financial Services Group, Inc. (The) by 34.0% in the 1st 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 in the last quarter. Ledyard National Bank increased its position in PNC Financial Services Group, Inc. (The) by 6.3% in the 2nd 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 in the last quarter. Jacobus Wealth Management Inc. increased its position in PNC Financial Services Group, Inc. (The) by 3.7% in the 1st 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 in the last quarter. Finally, Doyle Wealth Management bought a new stake in PNC Financial Services Group, Inc. (The) in the 2nd quarter valued at about $203,000. 80.80% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Stock Observer and is the sole property of of Stock Observer. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this article can be viewed at https://www.thestockobserver.com/2017/10/13/pnc-financial-services-group-inc-the-pnc-shares-bought-by-flinton-capital-management-llc.html.

In related news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the sale, the insider now directly owns 83,931 shares of the company’s stock, valued at approximately $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) (NYSE:PNC) last released its earnings results on Thursday, October 12th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.03. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the business earned $1.84 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, November 5th. Stockholders of record on Tuesday, October 17th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, October 16th. This represents a $3.00 annualized dividend and a dividend yield of 2.22%. PNC Financial Services Group, Inc. (The)’s payout ratio is 38.12%.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $2.70 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

PNC has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $130.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research report on Thursday, June 15th. BMO Capital Markets reaffirmed a “buy” rating and issued a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research report on Friday, June 23rd. BidaskClub lowered PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Instinet decreased their target price on PNC Financial Services Group, Inc. (The) from $127.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, June 30th. Finally, Zacks Investment Research raised PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. PNC Financial Services Group, Inc. (The) has a consensus rating of “Hold” and an average target price of $129.26.

About PNC Financial Services Group, Inc. (The)

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.

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. (The) (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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

Leave a Reply