Sei Investments Co. increased its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 37.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 282,738 shares of the financial services provider’s stock after buying an additional 77,031 shares during the period. Sei Investments Co. owned about 0.06% of PNC Financial Services Group, Inc. (The) worth $35,304,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Foster & Motley Inc. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 32.9% in the second quarter. Foster & Motley Inc. now owns 12,848 shares of the financial services provider’s stock valued at $1,604,000 after buying an additional 3,178 shares during the last quarter. Busey Trust CO boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 1.3% in the second quarter. Busey Trust CO now owns 3,803 shares of the financial services provider’s stock valued at $474,000 after buying an additional 49 shares during the last quarter. Braun Stacey Associates Inc. boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 0.8% in the second quarter. Braun Stacey Associates Inc. now owns 130,318 shares of the financial services provider’s stock valued at $16,273,000 after buying an additional 1,015 shares during the last quarter. River Wealth Advisors LLC boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 1.9% in the second quarter. River Wealth Advisors LLC now owns 25,170 shares of the financial services provider’s stock valued at $3,143,000 after buying an additional 465 shares during the last quarter. Finally, Cadence Bank NA boosted its stake in shares of PNC Financial Services Group, Inc. (The) by 0.9% in the second quarter. Cadence Bank NA now owns 15,258 shares of the financial services provider’s stock valued at $1,905,000 after buying an additional 131 shares during the last quarter. 81.16% of the stock is currently owned by institutional investors.

PNC Financial Services Group, Inc. (NYSE:PNC) opened at 127.55 on Tuesday. PNC Financial Services Group, Inc. has a 12 month low of $85.80 and a 12 month high of $133.26. The firm has a market capitalization of $61.12 billion, a P/E ratio of 16.23 and a beta of 0.93. The stock’s 50 day moving average price is $128.40 and its 200-day moving average price is $123.82.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a net margin of 24.50% and a return on equity of 9.17%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the prior year, the firm posted $1.82 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. Equities analysts forecast that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

PNC Financial Services Group, Inc. (The) declared that its board has approved a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.70 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Monday, July 17th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.35%. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio is 38.12%.

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Several equities research analysts have weighed in on the company. Piper Jaffray Companies reissued a “buy” rating and set a $134.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Sunday. Robert W. Baird reissued a “buy” rating and set a $135.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Monday. BidaskClub cut PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC reissued a “hold” rating and set a $136.00 price objective on shares of PNC Financial Services Group, Inc. (The) in a research note on Friday, August 11th. Finally, Wells Fargo & Company assumed coverage on PNC Financial Services Group, Inc. (The) in a research note on Wednesday, August 9th. They set a “market perform” rating and a $119.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $123.11.

In other PNC Financial Services Group, Inc. (The) news, insider Michael J. Hannon sold 24,111 shares of the stock in a transaction 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 transaction, the insider now directly owns 83,931 shares in the company, valued at approximately $10,613,074.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wyk Steven C. Van sold 5,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $128.31, for a total transaction of $641,550.00. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.

PNC Financial Services Group, Inc. (The) Company Profile

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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