Fifth Third Wealth Advisors LLC Boosts Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Fifth Third Wealth Advisors LLC boosted its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 113.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,023 shares of the financial services provider's stock after buying an additional 9,587 shares during the period. Fifth Third Wealth Advisors LLC's holdings in The PNC Financial Services Group were worth $3,332,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC increased its holdings in The PNC Financial Services Group by 5.4% during the 3rd quarter. MFA Wealth Advisors LLC now owns 1,082 shares of the financial services provider's stock worth $200,000 after purchasing an additional 55 shares in the last quarter. Resonant Capital Advisors LLC increased its position in The PNC Financial Services Group by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,030 shares of the financial services provider's stock valued at $3,148,000 after purchasing an additional 56 shares during the period. Valley Brook Capital Group Inc. increased its stake in The PNC Financial Services Group by 0.5% in the third quarter. Valley Brook Capital Group Inc. now owns 10,655 shares of the financial services provider's stock valued at $1,969,000 after purchasing an additional 57 shares in the last quarter. Ledyard National Bank raised its stake in shares of The PNC Financial Services Group by 2.8% in the third quarter. Ledyard National Bank now owns 2,350 shares of the financial services provider's stock worth $434,000 after purchasing an additional 64 shares during the last quarter. Finally, Kowal Investment Group LLC grew its position in shares of The PNC Financial Services Group by 2.6% during the 2nd quarter. Kowal Investment Group LLC now owns 2,644 shares of the financial services provider's stock valued at $411,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PNC shares. Compass Point lowered The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods raised their price target on The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday. Stephens increased their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Finally, Evercore ISI boosted their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of "Hold" and a consensus target price of $186.96.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $183.17, for a total value of $227,497.14. Following the transaction, the chief executive officer now owns 554,701 shares in the company, valued at $101,604,582.17. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Pfinsgraff sold 859 shares of the business's stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the sale, the director now directly owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,788 shares of company stock valued at $5,535,978. Insiders own 0.42% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $1.19 on Tuesday, reaching $205.64. The stock had a trading volume of 414,016 shares, compared to its average volume of 1,867,043. The stock has a market cap of $81.59 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 2.17 and a beta of 1.13. The business's 50-day moving average price is $188.73 and its 200 day moving average price is $173.43. 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 PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.30 by $0.19. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.60 earnings per share. As a group, equities analysts expect 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 company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Wednesday, October 16th were given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.11%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group's payout ratio is currently 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.