Fifth Third Bancorp Buys 37,200 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Fifth Third Bancorp increased its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 742,600 shares of the financial services provider's stock after acquiring an additional 37,200 shares during the quarter. Fifth Third Bancorp owned approximately 0.19% of The PNC Financial Services Group worth $130,527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PNC. Transcend Capital Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock valued at $616,000 after buying an additional 55 shares in the last quarter. Valmark Advisers Inc. lifted its stake in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock valued at $773,000 after buying an additional 56 shares in the last quarter. TFB Advisors LLC lifted its stake in shares of The PNC Financial Services Group by 3.3% in the fourth quarter. TFB Advisors LLC now owns 1,799 shares of the financial services provider's stock valued at $347,000 after buying an additional 58 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of The PNC Financial Services Group by 0.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,679 shares of the financial services provider's stock valued at $1,288,000 after buying an additional 59 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $4.56 during trading hours on Friday, hitting $173.18. The company's stock had a trading volume of 1,727,076 shares, compared to its average volume of 2,063,502. The company has a market cap of $68.50 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.55 and a beta of 1.06. 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 has a 50 day simple moving average of $167.04 and a two-hundred day simple moving average of $182.23. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26.

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

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. The ex-dividend date of this dividend was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.70%. The PNC Financial Services Group's payout ratio is 45.20%.

Insider Transactions at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the business's stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the transaction, the director now owns 2,009 shares of the company's stock, valued at $317,863.98. The trade was a 99.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $179.14, for a total transaction of $222,491.88. Following the completion of the transaction, the chief executive officer now owns 556,121 shares of the company's stock, valued at $99,623,515.94. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,912 shares of company stock worth $2,313,022 over the last quarter. Corporate insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PNC shares. The Goldman Sachs Group dropped their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Barclays dropped their price objective on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Morgan Stanley dropped their price target on shares of 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. Wells Fargo & Company dropped their price target on shares of The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.