Provident Trust Co Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Provident Trust Co reduced its stake in PNC Financial Services Group Inc by 0.21% during the most recent quarter end. The investment management company now holds a total of 1,376,569 shares of PNC Financial Services Group Inc which is valued at $115,425,311 after selling 2,853 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.PNC Financial Services Group Inc makes up approximately 6.19% of Provident Trust Co’s portfolio.

Other Hedge Funds, Including , Hudock Capital Group reduced its stake in PNC by selling 27 shares or 0.86% in the most recent quarter. The Hedge Fund company now holds 3,104 shares of PNC which is valued at $260,270. PNC Financial Services Group Inc makes up approx 0.14% of Hudock Capital Group’s portfolio.Green Square Capital boosted its stake in PNC in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 3,985 shares of PNC Financial Services Group Inc which is valued at $329,241. PNC Financial Services Group Inc makes up approx 0.08% of Green Square Capital’s portfolio.Louisiana State Employees Retirement System reduced its stake in PNC by selling 700 shares or 2.09% in the most recent quarter. The Hedge Fund company now holds 32,800 shares of PNC which is valued at $2,709,936. PNC Financial Services Group Inc makes up approx 0.14% of Louisiana State Employees Retirement System’s portfolio.Davenport Co boosted its stake in PNC in the latest quarter, The investment management firm added 140 additional shares and now holds a total of 5,398 shares of PNC Financial Services Group Inc which is valued at $443,176. PNC Financial Services Group Inc makes up approx 0.01% of Davenport Co’s portfolio.

PNC Financial Services Group Inc opened for trading at $84.06 and hit $84.35 on the upside on Thursday, eventually ending the session at $83.88, with a gain of 0.04% or 0.03 points. The heightened volatility saw the trading volume jump to 26,29,764 shares. Company has a market cap of $41,883 M.

On the company’s financial health, PNC Financial Services Group Inc reported $1.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 15, 2016. Analyst had a consensus of $1.75. The company had revenue of $3794.00 million for the quarter, compared to analysts expectations of $3826.61 million. The company’s revenue was down -1.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.88 EPS.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. Shares were Upgraded by Nomura on Jul 7, 2016 to ” Buy” and Lowered the Price Target to $ 84 from a previous price target of $95 .PNC Financial Services Group Inc was Downgraded by Raymond James to ” Underperform” on May 9, 2016.

The PNC Financial Services Group Inc. is a diversified financial services company in the United States. The Company has businesses engaged in retail banking corporate and institutional banking asset management and residential mortgage banking as well as other products and services in its primary geographic markets located in Pennsylvania Ohio New Jersey Michigan Illinois Maryland Indiana North Carolina Florida Kentucky Washington D.C. Delaware Virginia Alabama Missouri Georgia Wisconsin and South Carolina. The Company operates through six segments: Retail Banking Corporate & Institutional Banking Asset Management Group Residential Mortgage Banking BlackRock and Non-Strategic Assets Portfolio.

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