AQR Capital Management LLC Has $6.98 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

AQR Capital Management LLC raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,448 shares of the financial services provider’s stock after acquiring an additional 5,640 shares during the period. AQR Capital Management LLC’s holdings in The PNC Financial Services Group were worth $6,983,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AXA S.A. increased its position in The PNC Financial Services Group by 46.8% during the 2nd quarter. AXA S.A. now owns 12,125 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 3,865 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of The PNC Financial Services Group by 18.5% during the second quarter. Abich Financial Wealth Management LLC now owns 1,198 shares of the financial services provider’s stock worth $186,000 after buying an additional 187 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of The PNC Financial Services Group by 59.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 76,196 shares of the financial services provider’s stock valued at $11,847,000 after acquiring an additional 28,486 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of The PNC Financial Services Group by 5,419.9% during the 2nd quarter. Marshall Wace LLP now owns 259,049 shares of the financial services provider’s stock valued at $40,277,000 after acquiring an additional 254,356 shares in the last quarter. Finally, Providence Capital Advisors LLC acquired a new position in The PNC Financial Services Group in the 2nd quarter worth about $5,380,000. Institutional investors own 83.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William S. Demchak sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total transaction of $384,640.00. Following the transaction, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at $90,341,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $167.50, for a total transaction of $208,035.00. Following the completion of the sale, the chief executive officer now directly owns 563,395 shares of the company’s stock, valued at approximately $94,368,662.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William S. Demchak sold 2,404 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now directly owns 564,637 shares of the company’s stock, valued at $90,341,920. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,824 shares of company stock worth $4,580,223. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PNC shares. The Goldman Sachs Group cut their price target on The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Evercore ISI lifted their price target on shares of The PNC Financial Services Group from $203.00 to $212.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on The PNC Financial Services Group from $155.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, Compass Point downgraded The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and an average price target of $177.65.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $178.39 on Friday. The firm has a market capitalization of $70.91 billion, a P/E ratio of 14.98, a P/E/G ratio of 2.01 and a beta of 1.14. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $187.78. The company has a fifty day moving average of $178.11 and a 200-day moving average of $164.85. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a net margin of 15.53% and a return on equity of 11.33%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.36 earnings per share. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.