PNC Financial Services Group Inc (NYSE:PNC) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its stake in PNC Financial Services Group Inc (NYSE:PNC) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 468,059 shares of the financial services provider’s stock after selling 13,772 shares during the period. Fifth Third Bancorp’s holdings in PNC Financial Services Group were worth $57,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PNC. BlackRock Inc. lifted its stake in PNC Financial Services Group by 1.3% during the fourth quarter. BlackRock Inc. now owns 27,642,474 shares of the financial services provider’s stock valued at $3,231,680,000 after purchasing an additional 341,904 shares during the last quarter. FMR LLC lifted its stake in PNC Financial Services Group by 32.7% during the fourth quarter. FMR LLC now owns 10,859,988 shares of the financial services provider’s stock valued at $1,269,641,000 after purchasing an additional 2,677,895 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in PNC Financial Services Group by 11,450.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,000,055 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 5,948,109 shares during the last quarter. Geode Capital Management LLC lifted its stake in PNC Financial Services Group by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 5,547,745 shares of the financial services provider’s stock valued at $647,356,000 after purchasing an additional 323,714 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in PNC Financial Services Group by 1.4% during the fourth quarter. Northern Trust Corp now owns 5,341,413 shares of the financial services provider’s stock valued at $624,465,000 after purchasing an additional 71,882 shares during the last quarter. 80.36% of the stock is owned by institutional investors.

PNC stock opened at $133.73 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.23. The company has a market cap of $60.54 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 1.56 and a beta of 1.09. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $147.23.

PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.61. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.24 billion. PNC Financial Services Group had a net margin of 25.93% and a return on equity of 11.20%. During the same quarter in the prior year, the firm earned $2.43 EPS. Equities analysts predict that PNC Financial Services Group Inc will post 11.33 earnings per share for the current fiscal year.

Several analysts recently commented on the stock. ValuEngine raised shares of PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Thursday, April 18th. Morgan Stanley increased their target price on shares of PNC Financial Services Group from $138.00 to $142.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Barclays increased their target price on shares of PNC Financial Services Group from $156.00 to $157.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Zacks Investment Research lowered shares of PNC Financial Services Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Macquarie raised shares of PNC Financial Services Group from a “neutral” rating to an “outperform” rating in a research note on Wednesday, March 6th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $143.63.

In related news, insider Joseph E. Rockey sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the sale, the insider now owns 24,747 shares in the company, valued at approximately $3,340,845. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

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PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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