Fifth Third Bancorp Has $136.04 Million Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fifth Third Bancorp reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 705,400 shares of the financial services provider’s stock after selling 706 shares during the period. Fifth Third Bancorp’s holdings in The PNC Financial Services Group were worth $136,036,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Fifth Third Wealth Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 48.5% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,758 shares of the financial services provider’s stock worth $5,160,000 after acquiring an additional 8,735 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of The PNC Financial Services Group by 45.6% during the third quarter. Concurrent Investment Advisors LLC now owns 6,413 shares of the financial services provider’s stock worth $1,185,000 after buying an additional 2,009 shares during the period. BSN CAPITAL PARTNERS Ltd acquired a new position in The PNC Financial Services Group in the third quarter valued at $12,548,000. Bleakley Financial Group LLC boosted its position in The PNC Financial Services Group by 9.0% during the third quarter. Bleakley Financial Group LLC now owns 15,758 shares of the financial services provider’s stock valued at $2,913,000 after acquiring an additional 1,299 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in The PNC Financial Services Group during the 2nd quarter worth about $822,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the sale, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at $100,331,082.31. This represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,171 shares of company stock worth $5,777,926 in the last quarter. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

Shares of PNC opened at $199.49 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $79.15 billion, a PE ratio of 14.51, a PEG ratio of 1.59 and a beta of 1.16. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The stock’s fifty day moving average price is $200.45 and its two-hundred day moving average price is $188.14.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.16 earnings per share. On average, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.21%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.55%.

Wall Street Analysts Forecast Growth

PNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Compass Point increased their price objective on shares of 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. Evercore ISI boosted their target price on The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a report on Friday, January 17th. Finally, Stephens restated an “equal weight” rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, The PNC Financial Services Group currently has an average rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group 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.