Brandywine Global Investment Management Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Brandywine Global Investment Management reduced its stake in PNC Financial Services Group Inc by 1.64% during the most recent quarter end. The investment management company now holds a total of 1,257,165 shares of PNC Financial Services Group Inc which is valued at $106,859,025 after selling 20,950 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.PNC Financial Services Group Inc makes up approximately 0.68% of Brandywine Global Investment Management’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in PNC in the latest quarter, The investment management firm added 13,788 additional shares and now holds a total of 1,437,069 shares of PNC Financial Services Group Inc which is valued at $122,150,865. PNC Financial Services Group Inc makes up approx 0.15% of Schwab Charles Investment Management Inc’s portfolio.Profund Advisors boosted its stake in PNC in the latest quarter, The investment management firm added 1,322 additional shares and now holds a total of 16,285 shares of PNC Financial Services Group Inc which is valued at $1,384,225. PNC Financial Services Group Inc makes up approx 0.06% of Profund Advisors’s portfolio.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.First Midwest Bank Trust Division reduced its stake in PNC by selling 1,236 shares or 4.28% in the most recent quarter. The Hedge Fund company now holds 27,662 shares of PNC which is valued at $2,285,434. PNC Financial Services Group Inc makes up approx 0.28% of First Midwest Bank Trust Division’s portfolio.

PNC Financial Services Group Inc closed down -0.11 points or -0.12% at $89.99 with 30,61,180 shares getting traded on Thursday. Post opening the session at $90.29, the shares hit an intraday low of $89.19 and an intraday high of $90.64 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. PNC Financial Services Group Inc was Resumed by Keefe Bruyette to “Outperform” on Aug 31, 2016. 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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