Whittier Trust Co. of Nevada Inc. Has $17.08 Million Stake in The PNC Financial Services Group, Inc (NYSE:PNC)

Whittier Trust Co. of Nevada Inc. grew its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 30.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,157 shares of the financial services provider's stock after buying an additional 22,634 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in The PNC Financial Services Group were worth $17,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Norges Bank purchased a new position in The PNC Financial Services Group during the 4th quarter worth $1,352,151,000. Massachusetts Financial Services Co. MA grew its stake in The PNC Financial Services Group by 26.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after buying an additional 1,964,157 shares during the last quarter. Leigh Baldwin & CO. LLC purchased a new position in The PNC Financial Services Group during the 4th quarter worth $299,864,000. GAMMA Investing LLC grew its stake in The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after buying an additional 1,143,079 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in The PNC Financial Services Group by 166.1% during the 4th quarter. Schroder Investment Management Group now owns 1,378,675 shares of the financial services provider's stock worth $265,436,000 after buying an additional 860,554 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 0.9%

Shares of NYSE PNC traded up $1.79 during midday trading on Wednesday, reaching $193.93. 3,764,011 shares of the company's stock were exchanged, compared to its average volume of 2,139,720. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The stock has a market capitalization of $76.71 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.52 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The business's fifty day moving average price is $181.20 and its two-hundred day moving average price is $180.24.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same period last year, the firm earned $3.39 earnings per share. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's payout ratio is 48.02%.

Insider Activity

In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the transaction, the executive vice president owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin Pfinsgraff purchased 1,000 shares of the company's stock in a transaction on Friday, April 25th. The stock was bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the acquisition, the director directly owned 2,009 shares of the company's stock, valued at $317,863.98. This represents a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 9,545 shares of company stock valued at $1,590,080. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on PNC shares. Barclays dropped their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. Morgan Stanley dropped their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. dropped their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $209.11.

The PNC Financial Services Group Company 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.