Fragasso Group Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Fragasso Group reduced its stake in PNC Financial Services Group Inc by 4.34% during the most recent quarter end. The investment management company now holds a total of 18,032 shares of PNC Financial Services Group Inc which is valued at $1,517,573 after selling 818 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.PNC Financial Services Group Inc makes up approximately 0.59% of Fragasso Group’s portfolio.

PNC Financial Services Group Inc closed down -0.53 points or -0.63% at $84.16 with 20,52,238 shares getting traded on Friday. Post opening the session at $84.59, the shares hit an intraday low of $83.66 and an intraday high of $85.15 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in PNC in the latest quarter, The investment management firm added 39 additional shares and now holds a total of 43,478 shares of PNC Financial Services Group Inc which is valued at $3,659,108. PNC Financial Services Group Inc makes up approx 0.10% of Capstone Asset Management Co’s portfolio.Trust Co Of Virginia Va reduced its stake in PNC by selling 180 shares or 1.64% in the most recent quarter. The Hedge Fund company now holds 10,793 shares of PNC which is valued at $884,163. PNC Financial Services Group Inc makes up approx 0.16% of Trust Co Of Virginia Va’s portfolio.First Financial Bank N.a. – Trust Division boosted its stake in PNC in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 4,750 shares of PNC Financial Services Group Inc which is valued at $389,120. PNC Financial Services Group Inc makes up approx 0.08% of First Financial Bank N.a. – Trust Division’s portfolio.Stock Yards Bank Trust Co boosted its stake in PNC in the latest quarter, The investment management firm added 2,008 additional shares and now holds a total of 53,474 shares of PNC Financial Services Group Inc which is valued at $4,380,590. PNC Financial Services Group Inc makes up approx 0.63% of Stock Yards Bank Trust Co’s portfolio.

On the company’s financial health, PNC Financial Services Group Inc reported $1.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 14, 2016. Analyst had a consensus of $1.70. The company had revenue of $3665.00 million for the quarter, compared to analysts expectations of $3758.25 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.75 EPS.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. Shares were Reiterated by Compass Point on Apr 15, 2016 to “Neutral” and Lowered the Price Target to $ 93 from a previous price target of $99 .PNC Financial Services Group Inc was Downgraded by Atlantic Equities to ” Neutral” on Mar 14, 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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