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

PNC Financial Services Group Inc (PNC) : River Road Asset Management reduced its stake in PNC Financial Services Group Inc by 13.56% during the most recent quarter end. The investment management company now holds a total of 1,433,254 shares of PNC Financial Services Group Inc which is valued at $121.5 Million after selling 224,929 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.PNC Financial Services Group Inc makes up approximately 2.22% of River Road Asset Management’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in PNC in the latest quarter, The investment management firm added 70,023 additional shares and now holds a total of 4,019,685 shares of PNC Financial Services Group Inc which is valued at $340.6 Million. PNC Financial Services Group Inc makes up approx 0.19% of Geode Capital Management’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in PNC in the latest quarter, The investment management firm added 21,222 additional shares and now holds a total of 12,928,051 shares of PNC Financial Services Group Inc which is valued at $1,095.5 Million. PNC Financial Services Group Inc makes up approx 0.18% of Blackrock Institutional Trust Company N.a.’s portfolio.Janney Capital Management reduced its stake in PNC by selling 529 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 236,655 shares of PNC which is valued at $20.1 Million. PNC Financial Services Group Inc makes up approx 1.09% of Janney Capital Management’s portfolio.Tdam Usa reduced its stake in PNC by selling 2,015 shares or 8.2% in the most recent quarter. The Hedge Fund company now holds 22,552 shares of PNC which is valued at $1.9 Million. PNC Financial Services Group Inc makes up approx 0.09% of Tdam Usa’s portfolio.Dowling Yahnke boosted its stake in PNC in the latest quarter, The investment management firm added 819 additional shares and now holds a total of 20,436 shares of PNC Financial Services Group Inc which is valued at $1.8 Million. PNC Financial Services Group Inc makes up approx 0.22% of Dowling Yahnke’s portfolio.

PNC Financial Services Group Inc opened for trading at $89.48 and hit $90.85 on the upside on Wednesday, eventually ending the session at $90.23, with a gain of 1.35% or 1.2 points. The heightened volatility saw the trading volume jump to 23,22,832 shares. Company has a market cap of $45,054 M.

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. PNC Financial Services Group Inc was Downgraded by Raymond James to ” Underperform” on May 9, 2016. 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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