Equity Investment Corpga Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Equity Investment Corpga reduced its stake in PNC Financial Services Group Inc by 3.67% during the most recent quarter end. The investment management company now holds a total of 1,352,662 shares of PNC Financial Services Group Inc which is valued at $113,420,709 after selling 51,533 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.PNC Financial Services Group Inc makes up approximately 3.41% of Equity Investment Corpga’s portfolio.

Other Hedge Funds, Including , Montag A Associates Inc reduced its stake in PNC by selling 1,669 shares or 14.31% in the most recent quarter. The Hedge Fund company now holds 9,996 shares of PNC which is valued at $838,165. PNC Financial Services Group Inc makes up approx 0.11% of Montag A Associates Inc’s portfolio.Quadrant Capital Group reduced its stake in PNC by selling 32 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 1,327 shares of PNC which is valued at $109,677. PNC Financial Services Group Inc makes up approx 0.07% of Quadrant Capital Group’s portfolio.Newsquare Capital reduced its stake in PNC by selling 25 shares or 2.44% in the most recent quarter. The Hedge Fund company now holds 1,000 shares of PNC which is valued at $82,620. PNC Financial Services Group Inc makes up approx 0.02% of Newsquare Capital’s portfolio. Cutler Group Lp sold out all of its stake in PNC during the most recent quarter. The investment firm sold 1,444 shares of PNC which is valued $118,552.

PNC Financial Services Group Inc opened for trading at $86.36 and hit $86.97 on the upside on Monday, eventually ending the session at $86.49, with a gain of 0.06% or 0.05 points. The heightened volatility saw the trading volume jump to 25,11,652 shares. Company has a market cap of $42,502 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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