Aqr Capital Management buys $384,454,150 stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Aqr Capital Management scooped up 473,813 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 Aug 15, 2016. The investment management firm now holds a total of 4,522,990 shares of PNC Financial Services Group Inc which is valued at $384,454,150.PNC Financial Services Group Inc makes up approximately 0.66% of Aqr Capital Management’s portfolio.

Other Hedge Funds, Including , Ariel Investments boosted its stake in PNC in the latest quarter, The investment management firm added 983 additional shares and now holds a total of 33,445 shares of PNC Financial Services Group Inc which is valued at $2,842,825. PNC Financial Services Group Inc makes up approx 0.03% of Ariel Investments’s portfolio.Advisor Partners reduced its stake in PNC by selling 1,464 shares or 14.65% in the most recent quarter. The Hedge Fund company now holds 8,526 shares of PNC which is valued at $724,710. PNC Financial Services Group Inc makes up approx 0.24% of Advisor Partners’s portfolio. Lebenthal Asset Management added PNC to its portfolio by purchasing 31,509 company shares during the most recent quarter which is valued at $2,678,265. PNC Financial Services Group Inc makes up approx 0.33% of Lebenthal Asset Management’s portfolio. M&r Capital Management Inc added PNC to its portfolio by purchasing 1,795 company shares during the most recent quarter which is valued at $152,575. PNC Financial Services Group Inc makes up approx 0.04% of M&r Capital Management Inc’s portfolio.

PNC Financial Services Group Inc closed down -0.11 points or -0.12% at $89.99 with 30,61,180 shares getting traded on Thursday. Post opening the session at $90.29, the shares hit an intraday low of $89.19 and an intraday high of $90.64 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. PNC Financial Services Group Inc was Resumed by Keefe Bruyette to “Outperform” on Aug 31, 2016. 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 .

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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