10-15 Associates Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : 10-15 Associates reduced its stake in PNC Financial Services Group Inc by 2.81% during the most recent quarter end. The investment management company now holds a total of 109,896 shares of PNC Financial Services Group Inc which is valued at $9.9 Million after selling 3,172 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on May 25, 2016.PNC Financial Services Group Inc makes up approximately 3.02% of 10-15 Associates’s portfolio.

Other Hedge Funds, Including , Becker Capital Management Inc reduced its stake in PNC by selling 1,072 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 479,536 shares of PNC which is valued at $43.3 Million. PNC Financial Services Group Inc makes up approx 1.80% of Becker Capital Management Inc’s portfolio. Quadrature Capital Ltd added PNC to its portfolio by purchasing 18,635 company shares during the most recent quarter which is valued at $1.6 Million. PNC Financial Services Group Inc makes up approx 0.22% of Quadrature Capital Ltd’s portfolio.Third Avenue Management boosted its stake in PNC in the latest quarter, The investment management firm added 8,288 additional shares and now holds a total of 712,442 shares of PNC Financial Services Group Inc which is valued at $60.4 Million. PNC Financial Services Group Inc makes up approx 2.30% of Third Avenue Management’s portfolio.

PNC Financial Services Group Inc (PNC) witnessed a volatile trading activity on Wednesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $88.91 and reached the intraday high at $89.96. The bulls started the profit booking and pushed the shares to intraday low of $88.41. The trading session was marked by a volume range of 17,50,398 shares exchanging hands. The 52-week high of the shares is $100.52 and the 52-week low is $77.67. The market cap of the company stands at $44,809 M and there are 49,93,23,740 shares in public circulation.

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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