Cornerstone Investment Partners Lowers stake in PNC Financial Services Group Inc (PNC)

PNC Financial Services Group Inc (PNC) : Cornerstone Investment Partners reduced its stake in PNC Financial Services Group Inc by 25.98% during the most recent quarter end. The investment management company now holds a total of 857,815 shares of PNC Financial Services Group Inc which is valued at $75,436,251 after selling 301,101 shares in PNC Financial Services Group Inc , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.PNC Financial Services Group Inc makes up approximately 3.33% of Cornerstone Investment Partners’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in PNC by selling 658 shares or 10.19% in the most recent quarter. The Hedge Fund company now holds 5,800 shares of PNC which is valued at $510,052. PNC Financial Services Group Inc makes up approx 0.02% of Msi Financial Services Inc’s portfolio. Carl Domino Inc added PNC to its portfolio by purchasing 2,392 company shares during the most recent quarter which is valued at $216,500. PNC Financial Services Group Inc makes up approx 0.21% of Carl Domino Inc’s portfolio.Creative Planning boosted its stake in PNC in the latest quarter, The investment management firm added 1,541 additional shares and now holds a total of 20,139 shares of PNC Financial Services Group Inc which is valued at $1,822,781. PNC Financial Services Group Inc makes up approx 0.01% of Creative Planning’s portfolio.First United Bank Trust reduced its stake in PNC by selling 206 shares or 5.23% in the most recent quarter. The Hedge Fund company now holds 3,730 shares of PNC which is valued at $342,004. PNC Financial Services Group Inc makes up approx 0.28% of First United Bank Trust’s portfolio.Telemus Capital boosted its stake in PNC in the latest quarter, The investment management firm added 16 additional shares and now holds a total of 12,614 shares of PNC Financial Services Group Inc which is valued at $1,154,433. PNC Financial Services Group Inc makes up approx 0.13% of Telemus Capital’s portfolio.

PNC Financial Services Group Inc closed down -1.18 points or -1.29% at $90.51 with 28,22,103 shares getting traded on Tuesday. Post opening the session at $91.64, the shares hit an intraday low of $90.18 and an intraday high of $91.89 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, PNC Financial Services Group Inc reported $1.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 14, 2016. Analyst had a consensus of $1.78. The company had revenue of $3829.00 million for the quarter, compared to analysts expectations of $3805.06 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS.

Many Wall Street Analysts have commented on PNC Financial Services Group Inc. PNC Financial Services Group Inc was Downgraded by Nomura to ” Neutral” on Oct 10, 2016. PNC Financial Services Group Inc was Resumed by Keefe Bruyette to “Outperform” on Aug 31, 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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