Pnc Finl Svcs Group (PNC) Shareholder Benin Management Trimmed Its Holding; Overland Advisors Cut Brocade Communications Sys I (BRCD) Position by $20.23 Million as Stock Rose

December 17, 2017 - By Nellie Frank

Benin Management Corp decreased its stake in Pnc Finl Svcs Group Inc (PNC) by 5.61% based on its latest 2017Q2 regulatory filing with the SEC. Benin Management Corp sold 3,110 shares as the company’s stock declined 6.38% while stock markets rallied. The institutional investor held 52,353 shares of the finance company at the end of 2017Q2, valued at $6.54M, down from 55,463 at the end of the previous reported quarter. Benin Management Corp who had been investing in Pnc Finl Svcs Group Inc for a number of months, seems to be less bullish one the $68.97 billion market cap company. The stock increased 1.38% or $1.98 during the last trading session, reaching $144.95. About 3.40M shares traded or 95.47% up from the average. The PNC Financial Services Group, Inc. (NYSE:PNC) has risen 35.14% since December 17, 2016 and is uptrending. It has outperformed by 18.44% the S&P500.

Gordy Holterman decreased its stake in Brocade Communications Sys I (BRCD) by 78.26% based on its latest 2017Q2 regulatory filing with the SEC. Overland Advisors Llc sold 1.69 million shares as the company’s stock rose 2.27% with the market. The hedge fund run by Gordy Holterman held 468,253 shares of the technology company at the end of 2017Q2, valued at $5.91M, down from 2.15M at the end of the previous reported quarter. Overland Advisors Llc who had been investing in Brocade Communications Sys I for a number of months, seems to be less bullish one the $5.27 billion market cap company. It closed at $12.73 lastly. It is down 58.47% since December 17, 2016 and is uptrending. It has outperformed by 41.77% the S&P500.

Since October 19, 2017, it had 0 buys, and 3 insider sales for $7.75 million activity. Another trade for 46,307 shares valued at $6.64M was made by Parsley E William III on Friday, December 8. Larrimer Karen L. also sold $429,417 worth of The PNC Financial Services Group, Inc. (NYSE:PNC) on Monday, October 30.

Among 31 analysts covering PNC Financial Services (NYSE:PNC), 10 have Buy rating, 1 Sell and 20 Hold. Therefore 32% are positive. PNC Financial Services had 81 analyst reports since August 6, 2015 according to SRatingsIntel. The stock of The PNC Financial Services Group, Inc. (NYSE:PNC) has “Buy” rating given on Wednesday, February 8 by Goldman Sachs. The firm earned “Top Pick” rating on Monday, December 12 by RBC Capital Markets. Credit Suisse maintained The PNC Financial Services Group, Inc. (NYSE:PNC) rating on Monday, October 9. Credit Suisse has “Hold” rating and $135.0 target. The stock of The PNC Financial Services Group, Inc. (NYSE:PNC) earned “Market Perform” rating by Wood on Tuesday, August 11. Nomura maintained The PNC Financial Services Group, Inc. (NYSE:PNC) rating on Monday, October 23. Nomura has “Neutral” rating and $135 target. On Tuesday, December 12 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”. The stock of The PNC Financial Services Group, Inc. (NYSE:PNC) earned “Hold” rating by Oppenheimer on Friday, July 14. KBW upgraded the stock to “Market Perform” rating in Wednesday, September 2 report. The firm earned “Equalweight” rating on Monday, July 18 by Barclays Capital. The rating was maintained by Jefferies on Friday, September 15 with “Hold”.

Investors sentiment increased to 0.93 in Q2 2017. Its up 0.09, from 0.84 in 2017Q1. It is positive, as 59 investors sold PNC shares while 347 reduced holdings. 85 funds opened positions while 293 raised stakes. 381.37 million shares or 1.04% less from 385.39 million shares in 2017Q1 were reported. Riverhead Mgmt Lc holds 26,571 shares. Barrett Asset Mgmt Lc reported 5,520 shares or 0.05% of all its holdings. Capital Advisors Limited Liability Company stated it has 0.01% of its portfolio in The PNC Financial Services Group, Inc. (NYSE:PNC). Ray Gerald L & Associate Ltd has invested 0.1% in The PNC Financial Services Group, Inc. (NYSE:PNC). Rafferty Asset Mngmt Ltd Liability has invested 0.26% of its portfolio in The PNC Financial Services Group, Inc. (NYSE:PNC). Baystate Wealth Management Limited Liability, Massachusetts-based fund reported 682 shares. Tradition Mngmt Lc stated it has 0.69% in The PNC Financial Services Group, Inc. (NYSE:PNC). Deroy Devereaux Private Inv Counsel reported 145,518 shares. Moreover, Aureus Asset Mngmt Ltd Co has 0.04% invested in The PNC Financial Services Group, Inc. (NYSE:PNC). Connors Investor Incorporated holds 1.59% or 80,879 shares in its portfolio. 1St Glob Advisors Inc has invested 0.05% in The PNC Financial Services Group, Inc. (NYSE:PNC). Dumont & Blake Advisors Ltd Com accumulated 10,200 shares. Pinnacle Assoc has 0.31% invested in The PNC Financial Services Group, Inc. (NYSE:PNC). Qci Asset Mgmt Incorporated Ny, New York-based fund reported 131,355 shares. Shine Invest Advisory Services owns 582 shares or 0.04% of their US portfolio.

Benin Management Corp, which manages about $278.88M and $232.50 million US Long portfolio, upped its stake in United Parcel Service Inc (NYSE:UPS) by 16,400 shares to 55,211 shares, valued at $6.11M in 2017Q2, according to the filing. It also increased its holding in Spdr S&P 500 Etf Tr (SPY) by 7,200 shares in the quarter, for a total of 170,475 shares, and has risen its stake in Visa Inc (NYSE:V).

Analysts await The PNC Financial Services Group, Inc. (NYSE:PNC) to report earnings on January, 12. They expect $2.23 earnings per share, up 13.20% or $0.26 from last year’s $1.97 per share. PNC’s profit will be $1.06 billion for 16.25 P/E if the $2.23 EPS becomes a reality. After $2.16 actual earnings per share reported by The PNC Financial Services Group, Inc. for the previous quarter, Wall Street now forecasts 3.24% EPS growth.

Investors sentiment decreased to 1.1 in 2017 Q2. Its down 0.10, from 1.2 in 2017Q1. It dropped, as 36 investors sold BRCD shares while 76 reduced holdings. 27 funds opened positions while 96 raised stakes. 324.45 million shares or 1.36% more from 320.11 million shares in 2017Q1 were reported. Alliancebernstein LP holds 0% of its portfolio in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 245,477 shares. Weaver C Barksdale And has 0.01% invested in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 979 shares. Edge Wealth Mngmt Limited Liability Corporation invested in 2,800 shares. Commercial Bank Of Nova Scotia stated it has 0.07% of its portfolio in Brocade Communications Systems, Inc. (NASDAQ:BRCD). Alpine Mgmt has 5.86 million shares for 2.04% of their portfolio. Optimum Inv Advisors has 0.11% invested in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 24,577 shares. Moreover, Visionary Asset Mngmt has 0.09% invested in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 25,707 shares. Northwestern Mutual Wealth Mngmt invested in 0% or 6,432 shares. Federated Pa holds 198,006 shares or 0.01% of its portfolio. Gsa Ptnrs Ltd Liability Partnership reported 0.04% stake. Moreover, Baystate Wealth Ltd has 0% invested in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 40 shares. Tcw reported 62,391 shares or 0.01% of all its holdings. Morgan Stanley owns 10.11 million shares for 0.04% of their portfolio. Commercial Bank Of Mellon holds 5.43M shares or 0.02% of its portfolio. Freestone Cap Hldg Limited Liability Company holds 0.02% or 14,850 shares in its portfolio.

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