Davis Selected Advisers grew its position in shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,362 shares of the financial services provider’s stock after buying an additional 5,262 shares during the quarter. Davis Selected Advisers owned 0.06% of PNC Financial Services Group, Inc. (The) worth $38,380,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Sheaff Brock Investment Advisors LLC boosted its holdings in PNC Financial Services Group, Inc. (The) by 111.1% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 7,790 shares of the financial services provider’s stock worth $973,000 after purchasing an additional 4,100 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in PNC Financial Services Group, Inc. (The) by 3.4% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 75,084 shares of the financial services provider’s stock worth $9,376,000 after purchasing an additional 2,492 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in PNC Financial Services Group, Inc. (The) by 3.2% in the second quarter. Calamos Wealth Management LLC now owns 20,719 shares of the financial services provider’s stock worth $2,587,000 after purchasing an additional 640 shares during the last quarter. Fragasso Group Inc. boosted its holdings in PNC Financial Services Group, Inc. (The) by 1.9% in the second quarter. Fragasso Group Inc. now owns 17,770 shares of the financial services provider’s stock worth $2,219,000 after purchasing an additional 331 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co purchased a new stake in PNC Financial Services Group, Inc. (The) in the second quarter worth approximately $250,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.

Shares of PNC Financial Services Group, Inc. (PNC) opened at 133.43 on Monday. The firm has a 50-day moving average of $127.83 and a 200 day moving average of $123.75. The stock has a market capitalization of $63.94 billion, a PE ratio of 16.98 and a beta of 0.93. PNC Financial Services Group, Inc. has a 52-week low of $87.04 and a 52-week high of $134.30.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last announced its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.08. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.97 billion. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. PNC Financial Services Group, Inc. (The)’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 earnings per share. Equities research analysts forecast that PNC Financial Services Group, Inc. will post $8.41 EPS for the current fiscal year.

PNC Financial Services Group, Inc. (The) declared that its board has approved a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $2.70 billion in shares. This repurchase authorization allows the financial services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other news, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total value of $641,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the completion of the transaction, the insider now directly owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Several brokerages recently issued reports on PNC. Keefe, Bruyette & Woods restated a “hold” rating and issued a $129.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Friday, July 14th. Jefferies Group LLC reiterated a “hold” rating and set a $136.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, August 11th. Zacks Investment Research cut shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Nomura lifted their price target on shares of PNC Financial Services Group, Inc. (The) from $126.00 to $129.00 and gave the stock a “neutral” rating in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $126.02.

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About PNC Financial Services Group, Inc. (The)

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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