Barrow Hanley Mewhinney Strauss Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Barrow Hanley Mewhinney Strauss reduced its stake in PNC Financial Services Group Inc by 1.69% during the most recent quarter end. The investment management company now holds a total of 18,537,591 shares of PNC Financial Services Group Inc which is valued at $1,584,964,031 after selling 319,448 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.PNC Financial Services Group Inc makes up approximately 2.33% of Barrow Hanley Mewhinney Strauss’s portfolio.

Other Hedge Funds, Including , Blair William Coil boosted its stake in PNC in the latest quarter, The investment management firm added 6,488 additional shares and now holds a total of 28,379 shares of PNC Financial Services Group Inc which is valued at $2,426,405. PNC Financial Services Group Inc makes up approx 0.02% of Blair William Coil’s portfolio.Princeton Alpha Management Lp reduced its stake in PNC by selling 10,062 shares or 32.28% in the most recent quarter. The Hedge Fund company now holds 21,108 shares of PNC which is valued at $1,824,576. PNC Financial Services Group Inc makes up approx 0.31% of Princeton Alpha Management Lp’s portfolio.Mountain Pacific Investment Advisers Incid reduced its stake in PNC by selling 200 shares or 3.04% in the most recent quarter. The Hedge Fund company now holds 6,376 shares of PNC which is valued at $528,124. PNC Financial Services Group Inc makes up approx 0.06% of Mountain Pacific Investment Advisers Incid’s portfolio.Sonora Investment Management boosted its stake in PNC in the latest quarter, The investment management firm added 2,267 additional shares and now holds a total of 23,926 shares of PNC Financial Services Group Inc which is valued at $1,964,085. PNC Financial Services Group Inc makes up approx 1.08% of Sonora Investment Management’s portfolio.

PNC Financial Services Group Inc opened for trading at $85.08 and hit $85.78 on the upside on Monday, eventually ending the session at $85.63, with a gain of 0.74% or 0.63 points. The heightened volatility saw the trading volume jump to 18,62,626 shares. Company has a market cap of $42,079 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 .

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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