Canada Pension Plan Investment Board buys $178,896,950 stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Canada Pension Plan Investment Board scooped up 51,572 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 11, 2016. The investment management firm now holds a total of 2,104,670 shares of PNC Financial Services Group Inc which is valued at $178,896,950.PNC Financial Services Group Inc makes up approximately 0.68% of Canada Pension Plan Investment Board’s portfolio.

Other Hedge Funds, Including , Hightower Advisors reduced its stake in PNC by selling 37,735 shares or 8.04% in the most recent quarter. The Hedge Fund company now holds 431,682 shares of PNC which is valued at $36,692,970. PNC Financial Services Group Inc makes up approx 0.45% of Hightower Advisors’s portfolio.Advisors Asset Management boosted its stake in PNC in the latest quarter, The investment management firm added 3,325 additional shares and now holds a total of 61,486 shares of PNC Financial Services Group Inc which is valued at $5,257,053. PNC Financial Services Group Inc makes up approx 0.08% of Advisors Asset Management’s portfolio.River Road Asset Management reduced its stake in PNC by selling 329,059 shares or 22.96% in the most recent quarter. The Hedge Fund company now holds 1,104,195 shares of PNC which is valued at $95,446,616. PNC Financial Services Group Inc makes up approx 1.96% of River Road Asset Management’s portfolio.Tocqueville Asset Management reduced its stake in PNC by selling 31 shares or 0.54% in the most recent quarter. The Hedge Fund company now holds 5,714 shares of PNC which is valued at $472,262. PNC Financial Services Group Inc makes up approx 0.01% of Tocqueville Asset Management’s portfolio.

PNC Financial Services Group Inc opened for trading at $85.98 and hit $86.38 on the upside on Tuesday, eventually ending the session at $85.71, with a gain of 0.21% or 0.18 points. The heightened volatility saw the trading volume jump to 15,03,695 shares. Company has a market cap of $42,119 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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