Truist Financial Corp Has $173.66 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Truist Financial Corp trimmed its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,116,913 shares of the financial services provider’s stock after selling 4,220 shares during the period. Truist Financial Corp owned 0.28% of The PNC Financial Services Group worth $173,658,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EP Wealth Advisors LLC raised its holdings in shares of The PNC Financial Services Group by 11.9% in the second quarter. EP Wealth Advisors LLC now owns 3,725 shares of the financial services provider’s stock valued at $579,000 after buying an additional 395 shares during the last quarter. Brandes Investment Partners LP increased its position in The PNC Financial Services Group by 10.0% in the 2nd quarter. Brandes Investment Partners LP now owns 901,415 shares of the financial services provider’s stock valued at $139,954,000 after acquiring an additional 81,841 shares in the last quarter. Quarry LP raised its stake in shares of The PNC Financial Services Group by 141.7% in the second quarter. Quarry LP now owns 290 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 170 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of The PNC Financial Services Group by 9.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 39,397 shares of the financial services provider’s stock worth $6,125,000 after purchasing an additional 3,240 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of The PNC Financial Services Group by 31.0% during the second quarter. NewEdge Advisors LLC now owns 32,794 shares of the financial services provider’s stock valued at $5,099,000 after purchasing an additional 7,765 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup upped their price objective on 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. Jefferies Financial Group upped their price target on The PNC Financial Services Group from $162.00 to $164.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. UBS Group lifted their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their target price on shares of The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $152.00 to $162.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $176.90.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $158.10, for a total transaction of $101,342.10. Following the completion of the sale, the chief executive officer now owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The PNC Financial Services Group news, President Michael P. Lyons sold 11,000 shares of the business’s stock in a transaction that occurred 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 sale, the president now owns 199,095 shares in the company, valued at approximately $36,151,670.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $158.10, for a total transaction of $101,342.10. Following the transaction, the chief executive officer now directly owns 567,041 shares of the company’s stock, valued at $89,649,182.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,465 shares of company stock valued at $4,681,565. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

PNC opened at $184.84 on Tuesday. The stock has a market cap of $73.55 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.02 and a beta of 1.14. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $187.78. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The company has a fifty day simple moving average of $178.08 and a 200 day simple moving average of $164.43.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.30. 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 $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the firm posted $3.36 earnings per share. The PNC Financial Services Group’s revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that The PNC Financial Services Group, Inc. will post 13.14 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.