Wellesley Investment Partners buys $623,560 stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Wellesley Investment Partners scooped up 423 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 10, 2016. The investment management firm now holds a total of 7,336 shares of PNC Financial Services Group Inc which is valued at $623,560.PNC Financial Services Group Inc makes up approximately 0.33% of Wellesley Investment Partners’s portfolio.

Other Hedge Funds, Including , Cetera Advisor Networks boosted its stake in PNC in the latest quarter, The investment management firm added 54 additional shares and now holds a total of 10,272 shares of PNC Financial Services Group Inc which is valued at $873,120. PNC Financial Services Group Inc makes up approx 0.05% of Cetera Advisor Networks’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.Strs Ohio reduced its stake in PNC by selling 13,430 shares or 2.06% in the most recent quarter. The Hedge Fund company now holds 637,486 shares of PNC which is valued at $52,669,093. PNC Financial Services Group Inc makes up approx 0.23% of Strs Ohio’s portfolio.Financial Architects Inc boosted its stake in PNC in the latest quarter, The investment management firm added 8 additional shares and now holds a total of 5,775 shares of PNC Financial Services Group Inc which is valued at $477,131. PNC Financial Services Group Inc makes up approx 0.13% of Financial Architects Inc’s portfolio.Joel Isaacson reduced its stake in PNC by selling 960 shares or 30.34% in the most recent quarter. The Hedge Fund company now holds 2,204 shares of PNC which is valued at $182,557. PNC Financial Services Group Inc makes up approx 0.04% of Joel Isaacson’s portfolio.

PNC Financial Services Group Inc closed down -0.04 points or -0.05% at $85.42 with 13,95,385 shares getting traded on Friday. Post opening the session at $85.31, the shares hit an intraday low of $84.97 and an intraday high of $85.57 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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