Whittier Trust Co. of Nevada Inc. Raises Position in The PNC Financial Services Group, Inc $PNC

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 109,193 shares of the financial services provider’s stock after buying an additional 5,682 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in The PNC Financial Services Group were worth $23,273,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 984 shares during the last quarter. Empowered Funds LLC grew its holdings in The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after acquiring an additional 170 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of The PNC Financial Services Group by 50.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after purchasing an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of The PNC Financial Services Group by 1.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock valued at $34,409,000 after purchasing an additional 2,808 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the 2nd quarter valued at $482,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Oppenheimer raised their price target on The PNC Financial Services Group from $268.00 to $271.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Citigroup increased their price objective on The PNC Financial Services Group from $255.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. Jefferies Financial Group assumed coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They set a “buy” rating and a $250.00 target price for the company. Finally, Bank of America upped their price target on The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $252.71.

Insiders Place Their Bets

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the sale, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This represents a 36.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the sale, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This trade represents a 22.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,300 shares of company stock worth $10,694,574. 0.38% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Down 0.1%

The PNC Financial Services Group stock opened at $249.13 on Monday. The company has a market capitalization of $100.04 billion, a P/E ratio of 14.48, a PEG ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.82 and a current ratio of 0.83. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $254.00. The stock has a 50-day simple moving average of $226.89 and a 200-day simple moving average of $220.69.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the business posted $3.51 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 13.1% on a year-over-year basis. Equities research analysts expect that The PNC Financial Services Group, Inc will post 18.82 earnings per share for the current year.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.