Sumitomo Mitsui Trust Holdings Inc. Has $151.94 Million Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 940,225 shares of the financial services provider’s stock after purchasing an additional 5,785 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of The PNC Financial Services Group worth $151,940,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after acquiring an additional 67,490 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of The PNC Financial Services Group in the third quarter worth $351,000. Legacy Advisors LLC increased its stake in shares of The PNC Financial Services Group by 0.8% in the third quarter. Legacy Advisors LLC now owns 10,902 shares of the financial services provider’s stock worth $1,338,000 after acquiring an additional 84 shares during the last quarter. Lake Street Advisors Group LLC increased its stake in shares of The PNC Financial Services Group by 1.2% in the third quarter. Lake Street Advisors Group LLC now owns 11,139 shares of the financial services provider’s stock worth $1,368,000 after acquiring an additional 134 shares during the last quarter. Finally, KPP Advisory Services LLC acquired a new position in shares of The PNC Financial Services Group in the third quarter worth $323,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $153.08, for a total transaction of $98,124.28. Following the completion of the transaction, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The disclosure for this sale can be found here. Insiders sold a total of 2,132 shares of company stock valued at $328,809 over the last quarter. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research reports. Evercore ISI upped their price target on shares of The PNC Financial Services Group from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. Wells Fargo & Company increased their target price on shares of The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the company from $141.00 to $155.00 in a report on Thursday, March 28th. The Goldman Sachs Group upped their price target on shares of The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $158.43.

The PNC Financial Services Group Price Performance

PNC traded down $0.41 during midday trading on Wednesday, reaching $158.43. 205,726 shares of the company’s stock were exchanged, compared to its average volume of 1,879,599. The firm has a market capitalization of $63.04 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. The business has a 50-day simple moving average of $155.21 and a two-hundred day simple moving average of $153.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The company’s revenue was down 8.2% on a year-over-year basis. During the same quarter last year, the business posted $3.98 earnings per share. As a group, research analysts predict that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

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.