American Century Companies Inc buys $549,887,738 stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : American Century Companies Inc scooped up 897,284 additional shares in PNC Financial Services Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 6,655,625 shares of PNC Financial Services Group Inc which is valued at $549,887,738.PNC Financial Services Group Inc makes up approximately 0.61% of American Century Companies Inc’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama reduced its stake in PNC by selling 531 shares or 0.21% in the most recent quarter. The Hedge Fund company now holds 254,561 shares of PNC which is valued at $21,031,830. PNC Financial Services Group Inc makes up approx 0.12% of Retirement Systems Of Alabama’s portfolio.Joel Isaacson reduced its stake in PNC by selling 960 shares or 30.34% in the most recent quarter. The Hedge Fund company now holds 2,204 shares of PNC which is valued at $182,557. PNC Financial Services Group Inc makes up approx 0.04% of Joel Isaacson’s portfolio.Jag Capital Management boosted its stake in PNC in the latest quarter, The investment management firm added 46 additional shares and now holds a total of 21,364 shares of PNC Financial Services Group Inc which is valued at $1,769,580. PNC Financial Services Group Inc makes up approx 0.34% of Jag Capital Management’s portfolio.Sumitomo Life Insurance Co reduced its stake in PNC by selling 10,856 shares or 26.96% in the most recent quarter. The Hedge Fund company now holds 29,406 shares of PNC which is valued at $2,413,939. PNC Financial Services Group Inc makes up approx 0.32% of Sumitomo Life Insurance Co’s portfolio.

PNC Financial Services Group Inc closed down -0.37 points or -0.45% at $82.65 with 23,74,572 shares getting traded on Friday. Post opening the session at $82.71, the shares hit an intraday low of $82.65 and an intraday high of $83.32 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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