Mutual of America Capital Management LLC increased its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,109 shares of the financial services provider’s stock after purchasing an additional 1,833 shares during the period. Mutual of America Capital Management LLC’s holdings in PNC Financial Services Group, Inc. (The) were worth $9,753,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BRYN MAWR TRUST Co grew its holdings in PNC Financial Services Group, Inc. (The) by 2.4% during the second quarter. BRYN MAWR TRUST Co now owns 27,440 shares of the financial services provider’s stock worth $3,426,000 after acquiring an additional 635 shares during the period. Thrivent Financial For Lutherans raised its position in PNC Financial Services Group, Inc. (The) by 2.9% in the second quarter. Thrivent Financial For Lutherans now owns 18,354 shares of the financial services provider’s stock worth $2,292,000 after acquiring an additional 510 shares in the last quarter. Sandy Spring Bank raised its position in PNC Financial Services Group, Inc. (The) by 1.7% in the second quarter. Sandy Spring Bank now owns 9,345 shares of the financial services provider’s stock worth $1,167,000 after acquiring an additional 154 shares in the last quarter. BT Investment Management Ltd bought a new stake in PNC Financial Services Group, Inc. (The) in the second quarter worth about $39,856,000. Finally, Amalgamated Bank raised its position in PNC Financial Services Group, Inc. (The) by 56.1% in the second quarter. Amalgamated Bank now owns 54,489 shares of the financial services provider’s stock worth $6,804,000 after acquiring an additional 19,585 shares in the last quarter. 80.80% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: “PNC Financial Services Group, Inc. (The) (PNC) Position Raised by Mutual of America Capital Management LLC” was originally published by Marea Informative and is the sole property of of Marea Informative. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at http://www.mareainformativa.com/pnc-financial-services-group-inc-the-pnc-position-raised-by-mutual-of-america-capital-management-llc/115959/.

Several equities analysts have recently issued reports on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday, August 28th. Zacks Investment Research upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Tuesday, September 5th. Piper Jaffray Companies reissued a “buy” rating and set a $134.00 target price on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday, August 27th. BidaskClub lowered shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Credit Suisse Group restated a “neutral” rating and set a $126.00 target price (up from $114.00) on shares of PNC Financial Services Group, Inc. (The) in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $127.17.

In related news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The stock was 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.

Shares of PNC Financial Services Group, Inc. (NYSE:PNC) opened at 134.18 on Wednesday. PNC Financial Services Group, Inc. has a 52-week low of $87.34 and a 52-week high of $135.73. The firm has a 50-day moving average of $128.74 and a 200-day moving average of $124.29. The stock has a market cap of $64.30 billion, a P/E ratio of 17.08 and a beta of 0.95.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the company earned $1.82 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts expect that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

The firm also recently disclosed 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. This represents a $3.00 annualized dividend and a dividend yield of 2.24%. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is presently 38.12%.

PNC Financial Services Group, Inc. (The) declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.70 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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 & Stock 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 stocks with our FREE daily email newsletter.