Solaris Asset Management Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Solaris Asset Management reduced its stake in PNC Financial Services Group Inc by 2.73% during the most recent quarter end. The investment management company now holds a total of 41,365 shares of PNC Financial Services Group Inc which is valued at $3,417,576 after selling 1,160 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.PNC Financial Services Group Inc makes up approximately 2.43% of Solaris Asset Management’s portfolio.

Other Hedge Funds, Including , Tufton Capital Management reduced its stake in PNC by selling 575 shares or 5.0% in the most recent quarter. The Hedge Fund company now holds 10,929 shares of PNC which is valued at $902,954. PNC Financial Services Group Inc makes up approx 0.18% of Tufton Capital Management’s portfolio.Huntington National Bank boosted its stake in PNC in the latest quarter, The investment management firm added 35,206 additional shares and now holds a total of 275,683 shares of PNC Financial Services Group Inc which is valued at $22,776,929. PNC Financial Services Group Inc makes up approx 0.55% of Huntington National Bank’s portfolio.Berkshire Asset Managementpa reduced its stake in PNC by selling 6,196 shares or 5.2% in the most recent quarter. The Hedge Fund company now holds 112,912 shares of PNC which is valued at $9,326,531. PNC Financial Services Group Inc makes up approx 1.38% of Berkshire Asset Managementpa’s portfolio.Pennsylvania Trust Co boosted its stake in PNC in the latest quarter, The investment management firm added 519 additional shares and now holds a total of 32,988 shares of PNC Financial Services Group Inc which is valued at $2,724,809. PNC Financial Services Group Inc makes up approx 0.21% of Pennsylvania Trust Co’s portfolio.Chevy Chase Trust Holdings reduced its stake in PNC by selling 14,843 shares or 3.02% in the most recent quarter. The Hedge Fund company now holds 475,939 shares of PNC which is valued at $38,370,202. PNC Financial Services Group Inc makes up approx 0.21% of Chevy Chase Trust Holdings’s portfolio.

PNC Financial Services Group Inc closed down -0.37 points or -0.45% at $82.65 with 23,74,572 shares getting traded on Friday. Post opening the session at $82.71, the shares hit an intraday low of $82.65 and an intraday high of $83.32 and the price fluctuated in this range throughout the day.Shares ended Friday 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. 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 .PNC Financial Services Group Inc was Downgraded by Raymond James to ” Underperform” on May 9, 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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