Whittier Trust Co. of Nevada Inc. Raises Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Whittier Trust Co. of Nevada Inc. raised its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 55.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,759 shares of the financial services provider’s stock after purchasing an additional 24,970 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in The PNC Financial Services Group were worth $12,895,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. BSN CAPITAL PARTNERS Ltd bought a new stake in The PNC Financial Services Group in the third quarter valued at $12,548,000. Bleakley Financial Group LLC lifted its holdings in shares of The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after purchasing an additional 1,299 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of The PNC Financial Services Group in the second quarter worth about $822,000. Equity Investment Corp grew its position in The PNC Financial Services Group by 3.4% during the 1st quarter. Equity Investment Corp now owns 682,532 shares of the financial services provider’s stock worth $110,297,000 after purchasing an additional 22,188 shares in the last quarter. Finally, Duality Advisers LP grew its stake in The PNC Financial Services Group by 108.5% during the 1st quarter. Duality Advisers LP now owns 20,641 shares of the financial services provider’s stock valued at $3,336,000 after acquiring an additional 10,743 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $180.48, for a total transaction of $224,156.16. Following the sale, the chief executive officer now owns 560,911 shares in the company, valued at $101,233,217.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $180.48, for a total value of $224,156.16. Following the sale, the chief executive officer now owns 560,911 shares of the company’s stock, valued at $101,233,217.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Michael P. Lyons sold 11,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $181.58, for a total value of $1,997,380.00. Following the transaction, the president now directly owns 199,095 shares of the company’s stock, valued at approximately $36,151,670.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,662 shares of company stock worth $4,459,819 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PNC. Jefferies Financial Group raised their target price on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Citigroup increased their price objective on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Bank of America raised shares of The PNC Financial Services Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $185.00 to $200.00 in a research note on Thursday, August 15th. Compass Point lowered The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $185.71.

The PNC Financial Services Group Price Performance

PNC stock traded down $3.69 during mid-day trading on Monday, hitting $185.69. The stock had a trading volume of 950,371 shares, compared to its average volume of 1,864,833. The firm has a fifty day simple moving average of $180.83 and a 200 day simple moving average of $167.27. The firm has a market capitalization of $73.89 billion, a P/E ratio of 15.90, a P/E/G ratio of 2.06 and a beta of 1.14. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $196.64.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the company posted $3.60 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 13.18 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th will be paid a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.45%. The ex-dividend date is Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 53.74%.

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.