Fifth Third Wealth Advisors LLC Acquires 9,587 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fifth Third Wealth Advisors LLC increased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 113.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,023 shares of the financial services provider’s stock after buying an additional 9,587 shares during the period. 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.

A number of other hedge funds have also bought and sold shares of PNC. Bank & Trust Co purchased a new stake in The PNC Financial Services Group during the 2nd quarter worth about $26,000. ORG Partners LLC boosted its position in shares of The PNC Financial Services Group by 203.7% during the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 110 shares during the last quarter. LRI Investments LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter worth about $28,000. Y.D. More Investments Ltd bought a new position in shares of The PNC Financial Services Group in the second quarter worth approximately $33,000. Finally, Valley Wealth Managers Inc. raised its stake in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $206.83 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The stock has a market cap of $82.07 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.17 and a beta of 1.13. The business’s fifty day moving average is $188.73 and its 200 day moving average is $173.43. The PNC Financial Services Group, Inc. has a twelve month low of $127.08 and a twelve month high of $214.19.

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 the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.60 earnings per share. Research 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 issued a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.09%. The PNC Financial Services Group’s payout ratio is 54.10%.

Insider Transactions at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares in the company, valued at approximately $170,299.80. The trade was a 48.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $208.12, for a total value of $258,485.04. Following the completion of the transaction, the chief executive officer now owns 536,249 shares in the company, valued at $111,604,141.88. The trade was a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock worth $5,535,978 in the last ninety days. Insiders own 0.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley boosted 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. Barclays upped their price objective on The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Finally, Stephens boosted their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $186.96.

About The PNC Financial Services Group

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.