The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 48.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,758 shares of the financial services provider’s stock after purchasing an additional 8,735 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in The PNC Financial Services Group were worth $5,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Parallel Advisors LLC increased its stake in The PNC Financial Services Group by 8.4% in the 2nd quarter. Parallel Advisors LLC now owns 3,594 shares of the financial services provider’s stock valued at $559,000 after buying an additional 277 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in The PNC Financial Services Group by 5.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 24,146 shares of the financial services provider’s stock worth $3,754,000 after purchasing an additional 1,236 shares in the last quarter. WINTON GROUP Ltd boosted its holdings in The PNC Financial Services Group by 32.3% in the 2nd quarter. WINTON GROUP Ltd now owns 6,453 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 1,576 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in The PNC Financial Services Group by 5.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 21,914 shares of the financial services provider’s stock worth $3,407,000 after purchasing an additional 1,159 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of The PNC Financial Services Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,231,728 shares of the financial services provider’s stock worth $346,926,000 after buying an additional 100,993 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PNC shares. Compass Point increased their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Evercore ISI boosted their price target on The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial began coverage on The PNC Financial Services Group in a report on Tuesday, January 7th. They issued a “hold” rating and a $215.00 target price on the stock. Finally, Piper Sandler raised their target price on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $203.29.

Insider Activity

In related news, Director Martin Pfinsgraff sold 859 shares of the firm’s 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 completion of the sale, the director now directly owns 915 shares of the company’s stock, valued at approximately $170,299.80. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, January 10th. The stock was sold at an average price of $192.88, for a total transaction of $239,556.96. Following the sale, the chief executive officer now directly owns 526,313 shares in the company, valued at $101,515,251.44. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,272 shares of company stock worth $6,164,890. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Stock Up 1.8 %

Shares of NYSE:PNC opened at $195.81 on Wednesday. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The stock has a 50-day simple moving average of $201.75 and a 200-day simple moving average of $186.58. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $77.69 billion, a P/E ratio of 16.55, a PEG ratio of 2.11 and a beta of 1.16.

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

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 54.10%.

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.