Fifth Third Wealth Advisors LLC Boosts Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fifth Third Wealth Advisors LLC boosted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 113.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,023 shares of the financial services provider’s stock after purchasing an additional 9,587 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $3,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PNC. Concurrent Investment Advisors LLC increased its position in The PNC Financial Services Group by 45.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after purchasing an additional 2,009 shares during the last quarter. BSN CAPITAL PARTNERS Ltd bought a new position in shares of The PNC Financial Services Group during the 3rd quarter valued at approximately $12,548,000. Bleakley Financial Group LLC raised its holdings in The PNC Financial Services Group by 9.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after buying an additional 1,299 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in The PNC Financial Services Group in the second quarter worth $822,000. Finally, Manning & Napier Advisors LLC bought a new position in The PNC Financial Services Group during the second quarter valued at $18,159,000. Institutional investors own 83.53% of the company’s stock.

Insider Buying and Selling

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the transaction, the director now directly owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $176.15, for a total value of $218,778.30. Following the completion of the sale, the chief executive officer now owns 555,943 shares of the company’s stock, valued at $97,929,359.45. This trade represents a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,788 shares of company stock worth $5,535,978. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on PNC. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Compass Point cut The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays raised their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Bank of America raised The PNC Financial Services Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $185.00 to $200.00 in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $186.96.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $206.83 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19. The business’s 50 day moving average is $188.73 and its two-hundred day moving average is $173.43. The company has a market capitalization of $82.07 billion, a P/E ratio of 17.48, a P/E/G ratio of 2.17 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.60 earnings per share. Analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, October 16th. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

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.