Whittier Trust Co. Has $54.31 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Whittier Trust Co. grew its stake in The PNC Financial Services Group, Inc (NYSE:PNC) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,831 shares of the financial services provider’s stock after purchasing an additional 18,621 shares during the period. Whittier Trust Co. owned approximately 0.06% of The PNC Financial Services Group worth $54,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PNC. Brighton Jones LLC raised its stake in The PNC Financial Services Group by 32.2% during 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 in the last quarter. Empowered Funds LLC boosted its stake in shares of The PNC Financial Services Group by 2.1% in the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock valued at $1,452,000 after purchasing an additional 170 shares in the last quarter. Sivia Capital Partners LLC grew its holdings 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 worth $807,000 after purchasing an additional 1,449 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings 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 worth $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 during the 2nd quarter worth about $482,000. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $249.13 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The firm 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, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $254.00. The firm has a market cap of $100.04 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.02 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.92 by $0.40. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.21 billion. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.51 EPS. Sell-side analysts predict that The PNC Financial Services Group, Inc will post 18.82 earnings per share for the current fiscal year.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares in the company, valued at approximately $2,370,906.93. This represents a 80.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the transaction, the executive vice president owned 3,107 shares in the company, valued at $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,300 shares of company stock valued at $10,694,574 over the last 90 days. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PNC. Bank of America upped their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $235.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Stephens assumed coverage on The PNC Financial Services Group in a research report on Monday, June 15th. They set an “overweight” rating and a $265.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on The PNC Financial Services Group from $237.50 to $238.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group initiated coverage on The PNC Financial Services Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $250.00 price objective on the stock. 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 data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average price target of $252.71.

The PNC Financial Services Group Company Profile

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.