Thrivent Financial For Lutherans Buys 930 Shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC)

Thrivent Financial For Lutherans increased its stake in PNC Financial Services Group, Inc. (The) (NYSE:PNC) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,844 shares of the financial services provider’s stock after buying an additional 930 shares during the period. Thrivent Financial For Lutherans’ holdings in PNC Financial Services Group, Inc. (The) were worth $2,146,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PNC. Brookfield Asset Management Inc. bought a new position in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at approximately $1,951,000. Kentucky Retirement Systems bought a new position in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at approximately $4,129,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in PNC Financial Services Group, Inc. (The) during the fourth quarter valued at approximately $1,842,000. Philadelphia Trust Co. increased its position in PNC Financial Services Group, Inc. (The) by 1.7% in the fourth quarter. Philadelphia Trust Co. now owns 7,198 shares of the financial services provider’s stock valued at $842,000 after buying an additional 120 shares during the period. Finally, Park National Corp OH increased its position in PNC Financial Services Group, Inc. (The) by 2.5% in the first quarter. Park National Corp OH now owns 21,167 shares of the financial services provider’s stock valued at $2,545,000 after buying an additional 523 shares during the period. 82.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PNC Financial Services Group, Inc. (NYSE PNC) traded down 0.15% during mid-day trading on Friday, hitting $127.11. 1,511,657 shares of the stock were exchanged. PNC Financial Services Group, Inc. has a 12 month low of $85.09 and a 12 month high of $133.26. The stock has a market cap of $60.91 billion, a price-to-earnings ratio of 16.18 and a beta of 0.93. The company has a 50-day moving average price of $128.23 and a 200-day moving average price of $123.60.

PNC Financial Services Group, Inc. (The) (NYSE:PNC) last issued its earnings results on Friday, July 14th. The financial services provider reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.08. PNC Financial Services Group, Inc. (The) had a return on equity of 9.17% and a net margin of 24.50%. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the company earned $1.82 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts expect that PNC Financial Services Group, Inc. will post $8.38 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Monday, July 17th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from PNC Financial Services Group, Inc. (The)’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Thursday, July 13th. PNC Financial Services Group, Inc. (The)’s dividend payout ratio (DPR) is presently 38.12%.

PNC Financial Services Group, Inc. (The) announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that allows the company to buyback $2.70 billion in shares. This buyback authorization allows the financial services provider to purchase up to 4.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

WARNING: “Thrivent Financial For Lutherans Buys 930 Shares of PNC Financial Services Group, Inc. (The) (NYSE:PNC)” was first reported by BNB Daily and is the property of of BNB Daily. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/thrivent-financial-for-lutherans-has-2-15-million-stake-in-pnc-financial-services-group-inc-the-nysepnc-updated-updated-updated.html.

Several equities analysts have recently commented on PNC shares. Keefe, Bruyette & Woods set a $125.00 target price on shares of PNC Financial Services Group, Inc. (The) and gave the stock a “hold” rating in a report on Friday, May 19th. Zacks Investment Research downgraded shares of PNC Financial Services Group, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday, May 22nd. Jefferies Group LLC reissued a “hold” rating and issued a $136.00 target price on shares of PNC Financial Services Group, Inc. (The) in a report on Thursday, June 8th. BidaskClub raised shares of PNC Financial Services Group, Inc. (The) from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $130.00 price target on shares of PNC Financial Services Group, Inc. (The) in a research report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. PNC Financial Services Group, Inc. (The) has a consensus rating of “Hold” and a consensus target price of $122.57.

In related news, insider Michael J. Hannon sold 24,111 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $126.45, for a total transaction of $3,048,835.95. Following the completion of the sale, the insider now directly owns 83,931 shares of the company’s stock, valued at approximately $10,613,074.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wyk Steven C. Van sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $128.31, for a total value of $641,550.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.

PNC Financial Services Group, Inc. (The) Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company. The Company has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management. The Company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock.

Institutional Ownership by Quarter for PNC Financial Services Group, Inc. (The) (NYSE:PNC)

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