Jones Financial Companies Lllp Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Jones Financial Companies Lllp reduced its stake in PNC Financial Services Group Inc by 2.76% during the most recent quarter end. The investment management company now holds a total of 116,384 shares of PNC Financial Services Group Inc which is valued at $9,892,640 after selling 3,305 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 0.04% of Jones Financial Companies Lllp’s portfolio.

Other Hedge Funds, Including , Dynamic Capital Management Ltd sold out all of its stake in PNC during the most recent quarter. The investment firm sold 17,034 shares of PNC which is valued $1,447,890. Cincinnati Specialty Underwriters Insurance Co added PNC to its portfolio by purchasing 16,000 company shares during the most recent quarter which is valued at $1,368,000. PNC Financial Services Group Inc makes up approx 1.57% of Cincinnati Specialty Underwriters Insurance Co’s portfolio.Global X Management Co boosted its stake in PNC in the latest quarter, The investment management firm added 323 additional shares and now holds a total of 1,025 shares of PNC Financial Services Group Inc which is valued at $87,638.Laurel Grove Capital reduced its stake in PNC by selling 952 shares or 13.22% in the most recent quarter. The Hedge Fund company now holds 6,250 shares of PNC which is valued at $517,688. PNC Financial Services Group Inc makes up approx 0.30% of Laurel Grove Capital’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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