The PNC Financial Services Group, Inc $PNC Shares Purchased by Whittier Trust Co. of Nevada Inc.

Key Points

• Whittier Trust Co. of Nevada increased its stake in PNC by 5.5% in the first quarter, bringing its holdings to 109,193 shares valued at about $23.3 million.
• PNC reported strong quarterly earnings, with EPS of $4.32 topping estimates, while revenue rose 13.1% year over year to $6.17 billion.
• Analysts remain broadly positive on the stock, with a consensus Moderate Buy rating and an average price target of $252.71, even as insiders have been selling shares recently.

Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cvfg LLC increased its holdings in The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider's stock worth $366,000 after acquiring an additional 43 shares in the last quarter. YANKCOM Partnership lifted its holdings in The PNC Financial Services Group by 1.8% during the fourth quarter. YANKCOM Partnership now owns 2,583 shares of the financial services provider's stock valued at $539,000 after purchasing an additional 46 shares in the last quarter. Westfuller Advisors LLC lifted its holdings in The PNC Financial Services Group by 26.9% during the fourth quarter. Westfuller Advisors LLC now owns 217 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 46 shares in the last quarter. Baron Wealth Management LLC grew its position in shares of The PNC Financial Services Group by 3.0% in the first quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider's stock valued at $325,000 after purchasing an additional 46 shares during the period. Finally, Atom Investors LP increased its stake in shares of The PNC Financial Services Group by 1.8% during the fourth quarter. Atom Investors LP now owns 2,534 shares of the financial services provider's stock worth $529,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 0.1%

Shares of NYSE PNC opened at $249.13 on Monday. The PNC Financial Services Group, Inc has a 12-month low of $176.88 and a 12-month high of $254.00. The stock has a market cap of $100.04 billion, a PE ratio of 14.48, a P/E/G ratio of 1.02 and a beta of 0.91. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average of $226.89 and a 200 day moving average of $220.69.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.40. The business had revenue of $6.17 billion for the quarter, compared to analysts' expectations 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 period in the previous year, the firm posted $3.51 EPS. As a group, sell-side analysts predict that The PNC Financial Services Group, Inc will post 18.82 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on PNC shares. Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research report on Friday, March 27th. JPMorgan Chase & Co. boosted their price objective on The PNC Financial Services Group from $237.50 to $238.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Morgan Stanley increased their target price on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an "equal weight" rating in a report on Monday, June 29th. Citigroup raised their target price on The PNC Financial Services Group from $255.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Finally, Barclays boosted their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $252.71.

Insider Buying and Selling at The PNC Financial Services Group

In other news, EVP Michael Duane Thomas sold 1,500 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the completion of the transaction, the executive vice president directly owned 5,059 shares in the company, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president directly owned 3,107 shares of the company's stock, valued at $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,300 shares of company stock worth $10,694,574 in the last ninety days. 0.38% of the stock is owned by insiders.

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.

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