Aqr Capital Management buys $590,313,777 stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Aqr Capital Management scooped up 805,285 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 Nov 14, 2016. The investment management firm now holds a total of 5,460,812 shares of PNC Financial Services Group Inc which is valued at $590,313,777.PNC Financial Services Group Inc makes up approximately 0.90% of Aqr Capital Management’s portfolio.

Other Hedge Funds, Including , Freestone Capital Holdings boosted its stake in PNC in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 6,362 shares of PNC Financial Services Group Inc which is valued at $687,732. PNC Financial Services Group Inc makes up approx 0.06% of Freestone Capital Holdings’s portfolio.Wedbush Securities Inc reduced its stake in PNC by selling 24 shares or 0.97% in the most recent quarter. The Hedge Fund company now holds 2,461 shares of PNC which is valued at $232,934. PNC Financial Services Group Inc makes up approx 0.04% of Wedbush Securities Inc’s portfolio.Amica Mutual Insurance Co boosted its stake in PNC in the latest quarter, The investment management firm added 6,229 additional shares and now holds a total of 36,010 shares of PNC Financial Services Group Inc which is valued at $3,408,347. PNC Financial Services Group Inc makes up approx 0.34% of Amica Mutual Insurance Co’s portfolio. Rmb Capital Management added PNC to its portfolio by purchasing 13 company shares during the most recent quarter which is valued at $1,232.Mizuho Trust Banking Ltd. boosted its stake in PNC in the latest quarter, The investment management firm added 16,365 additional shares and now holds a total of 839,484 shares of PNC Financial Services Group Inc which is valued at $79,557,899. PNC Financial Services Group Inc makes up approx 0.24% of Mizuho Trust Banking Ltd.’s portfolio.

PNC Financial Services Group Inc opened for trading at $110.91 and hit $111.385 on the upside on Monday, eventually ending the session at $111.24, with a gain of 0.58% or 0.64 points. The heightened volatility saw the trading volume jump to 52,45,777 shares. Company has a market cap of $54,118 M.

On the company’s financial health, PNC Financial Services Group Inc reported $1.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 14, 2016. Analyst had a consensus of $1.78. The company had revenue of $3829.00 million for the quarter, compared to analysts expectations of $3805.06 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. PNC Financial Services Group Inc was Upgraded by Argus to ” Buy” on Oct 17, 2016. PNC Financial Services Group Inc was Downgraded by Nomura to ” Neutral” on Oct 10, 2016. PNC Financial Services Group Inc was Resumed by Keefe Bruyette to “Outperform” on Aug 31, 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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