Thrivent Financial for Lutherans Trims Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Thrivent Financial for Lutherans trimmed its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,395 shares of the financial services provider’s stock after selling 701 shares during the quarter. Thrivent Financial for Lutherans’ holdings in The PNC Financial Services Group were worth $7,061,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Winch Advisory Services LLC purchased a new stake in The PNC Financial Services Group in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. increased its holdings in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 140 shares during the period. Albion Financial Group UT bought a new position in shares of The PNC Financial Services Group in the fourth quarter worth $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $32,000. Finally, Rialto Wealth Management LLC bought a new stake in The PNC Financial Services Group during the fourth quarter valued at $32,000. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PNC has been the topic of a number of research analyst reports. Barclays upped their target price on The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler raised their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group cut their target price on shares of The PNC Financial Services Group from $211.00 to $188.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $203.71.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $192.15, for a total value of $238,650.30. Following the sale, the chief executive officer now directly owns 527,555 shares in the company, valued at approximately $101,369,693.25. This trade represents a 0.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 12,420 shares of company stock valued at $2,369,165. Insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Trading Down 0.0 %

Shares of PNC stock opened at $173.35 on Monday. The business has a 50-day moving average of $190.03 and a 200 day moving average of $192.34. 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 PNC Financial Services Group, Inc. has a 1-year low of $143.52 and a 1-year high of $216.26. The stock has a market capitalization of $68.60 billion, a PE ratio of 12.61, a P/E/G ratio of 1.55 and a beta of 1.13.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm posted $3.16 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is 46.55%.

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.