The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,096 shares of the financial services provider’s stock after acquiring an additional 4,186 shares during the quarter. Thrivent Financial for Lutherans’ holdings in The PNC Financial Services Group were worth $6,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CreativeOne Wealth LLC increased its position in The PNC Financial Services Group by 182.7% during the first quarter. CreativeOne Wealth LLC now owns 4,283 shares of the financial services provider’s stock worth $692,000 after buying an additional 2,768 shares in the last quarter. Canada Pension Plan Investment Board increased its position in The PNC Financial Services Group by 43.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 287,126 shares of the financial services provider’s stock worth $46,400,000 after purchasing an additional 87,621 shares in the last quarter. LRI Investments LLC acquired a new position in The PNC Financial Services Group in the 1st quarter valued at about $243,000. Kestra Advisory Services LLC boosted its stake in shares of The PNC Financial Services Group by 6.6% during the 1st quarter. Kestra Advisory Services LLC now owns 100,781 shares of the financial services provider’s stock worth $16,286,000 after purchasing an additional 6,254 shares during the last quarter. Finally, Ascent Group LLC boosted its stake in shares of The PNC Financial Services Group by 15.0% during the 1st quarter. Ascent Group LLC now owns 6,826 shares of the financial services provider’s stock worth $1,103,000 after purchasing an additional 889 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Bank of America upgraded The PNC Financial Services Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $200.00 in a report on Thursday, August 15th. Keefe, Bruyette & Woods increased their target price 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. 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. Finally, Evercore ISI upped 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $186.96.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $186.45, for a total transaction of $231,570.90. Following the completion of the sale, the chief executive officer now directly owns 550,975 shares in the company, valued at $102,729,288.75. This trade represents a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew T. Feldstein sold 14,509 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,546 shares of company stock valued at $5,317,200. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 2.1 %

Shares of NYSE PNC opened at $210.07 on Friday. The stock has a fifty day moving average price of $191.01 and a 200 day moving average price of $174.58. The company has a market cap of $83.35 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.14 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 12-month low of $127.15 and a 12-month high of $214.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for 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% on a year-over-year basis. During the same period last year, the business posted $3.60 EPS. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Wednesday, October 16th were paid a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.05%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 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.