Rafferty Asset Management buys $7,932,605 stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Rafferty Asset Management scooped up 24,428 additional shares in PNC Financial Services Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 92,779 shares of PNC Financial Services Group Inc which is valued at $7,932,605.PNC Financial Services Group Inc makes up approximately 0.50% of Rafferty Asset Management’s portfolio.

Other Hedge Funds, Including , Affinity Investment Advisors sold out all of its stake in PNC during the most recent quarter. The investment firm sold 16,300 shares of PNC which is valued $1,393,650.Proficio Capital Partners reduced its stake in PNC by selling 133 shares or 90.48% in the most recent quarter. The Hedge Fund company now holds 14 shares of PNC which is valued at $1,157.Trillium Asset Management reduced its stake in PNC by selling 39,420 shares or 34.17% in the most recent quarter. The Hedge Fund company now holds 75,938 shares of PNC which is valued at $6,276,276. PNC Financial Services Group Inc makes up approx 0.39% of Trillium Asset Management’s portfolio.Diversified Trust Co reduced its stake in PNC by selling 300 shares or 0.93% in the most recent quarter. The Hedge Fund company now holds 31,821 shares of PNC which is valued at $2,629,051. PNC Financial Services Group Inc makes up approx 0.36% of Diversified Trust Co’s portfolio.Cibc World Markets reduced its stake in PNC by selling 619 shares or 4.67% in the most recent quarter. The Hedge Fund company now holds 12,642 shares of PNC which is valued at $1,047,137.

PNC Financial Services Group Inc opened for trading at $85.65 and hit $85.96 on the upside on Wednesday, eventually ending the session at $85.78, with a gain of 0.13% or 0.11 points. The heightened volatility saw the trading volume jump to 15,10,827 shares. Company has a market cap of $42,153 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 .

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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