The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,523 shares of the financial services provider’s stock after buying an additional 4,764 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in The PNC Financial Services Group were worth $14,372,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Whittier Trust Co. boosted its holdings in shares of The PNC Financial Services Group by 1.6% in the 4th quarter. Whittier Trust Co. now owns 160,997 shares of the financial services provider’s stock valued at $31,048,000 after buying an additional 2,543 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter valued at $3,770,000. Teacher Retirement System of Texas boosted its holdings in shares of The PNC Financial Services Group by 42.4% in the 4th quarter. Teacher Retirement System of Texas now owns 172,035 shares of the financial services provider’s stock valued at $33,177,000 after buying an additional 51,206 shares in the last quarter. Sandy Spring Bank boosted its holdings in shares of The PNC Financial Services Group by 1.4% in the 4th quarter. Sandy Spring Bank now owns 4,901 shares of the financial services provider’s stock valued at $945,000 after buying an additional 67 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of The PNC Financial Services Group by 0.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 356,103 shares of the financial services provider’s stock valued at $68,674,000 after buying an additional 1,851 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $173.42 on Friday. The company has a 50-day simple moving average of $190.35 and a 200-day simple moving average of $192.30. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $68.63 billion, a PE ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $143.52 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.51. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $3.16 EPS. Equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is currently 46.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Truist Financial increased their price target on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Piper Sandler increased their price target on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Barclays increased their price target on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $203.71.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the completion of the transaction, the chief executive officer now owns 567,299 shares in the company, valued at approximately $97,093,223.85. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 12,420 shares of company stock worth $2,369,165. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Profile

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.