Estabrook Capital Management Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Estabrook Capital Management reduced its stake in PNC Financial Services Group Inc by 6.04% during the most recent quarter end. The investment management company now holds a total of 187,791 shares of PNC Financial Services Group Inc which is valued at $15,962,235 after selling 12,077 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.PNC Financial Services Group Inc makes up approximately 2.31% of Estabrook Capital Management’s portfolio.

Other Hedge Funds, Including , Guyasuta Investment Advisors Inc boosted its stake in PNC in the latest quarter, The investment management firm added 10,359 additional shares and now holds a total of 212,403 shares of PNC Financial Services Group Inc which is valued at $18,054,255. PNC Financial Services Group Inc makes up approx 2.34% of Guyasuta Investment Advisors Inc’s portfolio.Qci Asset Management Incny boosted its stake in PNC in the latest quarter, The investment management firm added 12,852 additional shares and now holds a total of 138,702 shares of PNC Financial Services Group Inc which is valued at $11,989,401. PNC Financial Services Group Inc makes up approx 1.64% of Qci Asset Management Incny’s portfolio.New Mexico Educational Retirement Board boosted its stake in PNC in the latest quarter, The investment management firm added 1,900 additional shares and now holds a total of 58,149 shares of PNC Financial Services Group Inc which is valued at $4,875,794. PNC Financial Services Group Inc makes up approx 0.21% of New Mexico Educational Retirement Board’s portfolio.Her Majesty The Queen In Right Of The Province Of Alberta… reduced its stake in PNC by selling 22,100 shares or 16.18% in the most recent quarter. The Hedge Fund company now holds 114,500 shares of PNC which is valued at $9,600,825. PNC Financial Services Group Inc makes up approx 0.12% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Edgemoor Investment Advisors boosted its stake in PNC in the latest quarter, The investment management firm added 2,686 additional shares and now holds a total of 173,558 shares of PNC Financial Services Group Inc which is valued at $14,552,838. PNC Financial Services Group Inc makes up approx 2.25% of Edgemoor Investment Advisors’s portfolio.

PNC Financial Services Group Inc opened for trading at $86.78 and hit $88.18 on the upside on Monday, eventually ending the session at $87.92, with a gain of 1.42% or 1.23 points. The heightened volatility saw the trading volume jump to 30,48,533 shares. Company has a market cap of $43,205 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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