Fifth Third Wealth Advisors LLC Acquires 3,690 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fifth Third Wealth Advisors LLC boosted its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 13.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,448 shares of the financial services provider's stock after purchasing an additional 3,690 shares during the period. Fifth Third Wealth Advisors LLC's holdings in The PNC Financial Services Group were worth $5,352,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PNC. Mechanics Financial Corp acquired a new position in The PNC Financial Services Group in the fourth quarter valued at approximately $541,000. AssuredPartners Investment Advisors LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth $739,000. Premier Fund Managers Ltd grew its stake in The PNC Financial Services Group by 38.3% in the fourth quarter. Premier Fund Managers Ltd now owns 49,430 shares of the financial services provider's stock valued at $9,511,000 after acquiring an additional 13,700 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of The PNC Financial Services Group by 25.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,074 shares of the financial services provider's stock valued at $7,739,000 after purchasing an additional 8,081 shares during the period. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in The PNC Financial Services Group by 2.0% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 156,609 shares of the financial services provider's stock valued at $30,202,000 after buying an additional 3,100 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $150.50, for a total value of $96,470.50. Following the completion of the transaction, the chief executive officer now owns 562,291 shares of the company's stock, valued at approximately $84,624,795.50. The trade was a 0.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kieran John Fallon sold 1,492 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. This trade represents a 6.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,396 shares of company stock worth $2,747,698. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 0.2%

Shares of The PNC Financial Services Group stock traded up $0.30 during trading on Thursday, reaching $175.16. The company's stock had a trading volume of 389,232 shares, compared to its average volume of 2,048,376. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26. The firm's 50-day moving average is $165.10 and its two-hundred day moving average is $183.96. The company has a market cap of $69.29 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.55 and a beta of 1.06.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada cut their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Truist Financial lowered their target price on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley lowered their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating for the company in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group lowered their price target on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $202.67.

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.