Deseret Mutual Benefit Administrators Decreases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Deseret Mutual Benefit Administrators lessened its position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 10.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 860 shares of the financial services provider’s stock after selling 101 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in The PNC Financial Services Group were worth $166,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Winch Advisory Services LLC purchased a new position in shares of The PNC Financial Services Group in the fourth quarter valued at $25,000. Richardson Financial Services Inc. raised its stake in The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT bought a new position in The PNC Financial Services Group during the fourth quarter valued at $30,000. Synergy Asset Management LLC purchased a new position in shares of The PNC Financial Services Group in the 4th quarter worth $32,000. Finally, Valley Wealth Managers Inc. increased its holdings in shares of The PNC Financial Services Group by 20,000.0% in the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $187.90 on Friday. The company has a market capitalization of $74.55 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.55 and a beta of 1.16. The company’s 50-day simple moving average is $196.08 and its two-hundred day simple moving average is $191.64. The PNC Financial Services Group, Inc. has a one year low of $143.52 and a one year high of $216.26. 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 (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The PNC Financial Services Group’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.16 earnings per share. As a group, equities analysts anticipate that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.41%. The PNC Financial Services Group’s dividend payout ratio is currently 46.55%.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $209.24, for a total transaction of $259,876.08. Following the transaction, the chief executive officer now directly owns 532,523 shares in the company, valued at $111,425,112.52. This represents a 0.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 12,420 shares of company stock worth $2,474,722 over the last three months. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on PNC shares. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. Barclays raised their price objective on The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company boosted their target price on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler raised their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $205.00.

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.