Fifth Third Bancorp Sells 706 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fifth Third Bancorp reduced its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 705,400 shares of the financial services provider’s stock after selling 706 shares during the period. Fifth Third Bancorp owned about 0.18% of The PNC Financial Services Group worth $136,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. apricus wealth LLC increased its holdings in shares of The PNC Financial Services Group by 0.6% during the fourth quarter. apricus wealth LLC now owns 12,997 shares of the financial services provider’s stock worth $2,506,000 after buying an additional 75 shares in the last quarter. CX Institutional raised its position in The PNC Financial Services Group by 17.5% in the 4th quarter. CX Institutional now owns 2,490 shares of the financial services provider’s stock worth $480,000 after purchasing an additional 371 shares during the last quarter. Encompass More Asset Management lifted its holdings in The PNC Financial Services Group by 26.7% during the 4th quarter. Encompass More Asset Management now owns 1,376 shares of the financial services provider’s stock worth $265,000 after buying an additional 290 shares in the last quarter. Impact Partnership Wealth LLC bought a new position in The PNC Financial Services Group in the 4th quarter valued at $834,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of The PNC Financial Services Group by 30.9% in the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 13,153 shares of the financial services provider’s stock valued at $2,532,000 after buying an additional 3,103 shares during the period. Institutional investors own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PNC shares. Evercore ISI raised their price objective on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup increased their target price on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Barclays lifted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, The Goldman Sachs Group lifted their target price on The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $205.00.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 14,509 shares of the company’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 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. This represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $189.50, for a total transaction of $235,359.00. Following the completion of the sale, the chief executive officer now owns 543,523 shares in the company, valued at $102,997,608.50. 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 over the last three months. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Up 0.9 %

Shares of NYSE:PNC opened at $199.49 on Friday. The company has a market capitalization of $79.15 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.59 and a beta of 1.16. 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 business’s 50 day simple moving average is $200.45 and its 200 day simple moving average is $188.14. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the business earned $3.16 earnings per share. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group, Inc. will post 15.26 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th will be paid a $1.60 dividend. 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%.

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.