Berkshire Asset Managementpa Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Berkshire Asset Managementpa reduced its stake in PNC Financial Services Group Inc by 5.2% during the most recent quarter end. The investment management company now holds a total of 112,912 shares of PNC Financial Services Group Inc which is valued at $9,326,531 after selling 6,196 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.PNC Financial Services Group Inc makes up approximately 1.38% of Berkshire Asset Managementpa’s portfolio.

Other Hedge Funds, Including , Partnerre Asset Management Corp reduced its stake in PNC by selling 100 shares or 2.91% in the most recent quarter. The Hedge Fund company now holds 3,342 shares of PNC which is valued at $274,345. PNC Financial Services Group Inc makes up approx 0.14% of Partnerre Asset Management Corp’s portfolio.Creative Planning reduced its stake in PNC by selling 2,155 shares or 10.38% in the most recent quarter. The Hedge Fund company now holds 18,598 shares of PNC which is valued at $1,526,896. PNC Financial Services Group Inc makes up approx 0.01% of Creative Planning’s portfolio. Carl Domino Inc sold out all of its stake in PNC during the most recent quarter. The investment firm sold 2,392 shares of PNC which is valued $192,843.Kistler-tiffany Companies boosted its stake in PNC in the latest quarter, The investment management firm added 89 additional shares and now holds a total of 15,629 shares of PNC Financial Services Group Inc which is valued at $1,260,010. PNC Financial Services Group Inc makes up approx 0.64% of Kistler-tiffany Companies’s portfolio.

PNC Financial Services Group Inc opened for trading at $82.86 and hit $82.8899 on the upside on Wednesday, eventually ending the session at $82.6, with a gain of 0.28% or 0.23 points. The heightened volatility saw the trading volume jump to 24,63,369 shares. Company has a market cap of $41,244 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 .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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