Flavin Financial Services Inc. Purchases 717 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Flavin Financial Services Inc. lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,890 shares of the financial services provider’s stock after buying an additional 717 shares during the quarter. The PNC Financial Services Group makes up 2.1% of Flavin Financial Services Inc.’s holdings, making the stock its 17th largest holding. Flavin Financial Services Inc.’s holdings in The PNC Financial Services Group were worth $2,266,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Sabal Trust CO raised its stake in The PNC Financial Services Group by 0.5% in the first quarter. Sabal Trust CO now owns 174,518 shares of the financial services provider’s stock valued at $30,675,000 after buying an additional 821 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in The PNC Financial Services Group by 0.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 59,539 shares of the financial services provider’s stock valued at $10,465,000 after acquiring an additional 324 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of The PNC Financial Services Group by 7.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 15,406 shares of the financial services provider’s stock valued at $2,708,000 after acquiring an additional 1,129 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in shares of The PNC Financial Services Group by 9.0% in the first quarter. HBK Sorce Advisory LLC now owns 20,742 shares of the financial services provider’s stock worth $3,646,000 after acquiring an additional 1,712 shares during the period. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of The PNC Financial Services Group by 29.9% during the first quarter. Pinnacle Bancorp Inc. now owns 648 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $155.27, for a total transaction of $99,528.07. Following the completion of the transaction, the chief executive officer now directly owns 564,174 shares in the company, valued at $87,599,296.98. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,670 shares of company stock worth $2,099,398 in the last 90 days. Insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $182.55 on Thursday. The business’s 50 day moving average price is $170.79 and its 200 day moving average price is $180.61. The company has a market cap of $72.21 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.53 and a beta of 1.06. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $5.50 billion. On average, research analysts predict 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 Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.51%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 45.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PNC shares. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. Royal Bank Of Canada lowered their target price on The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. Citigroup dropped their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Truist Financial decreased their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a “hold” rating for the company in a report on Wednesday, April 16th. Finally, Morgan Stanley dropped their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $202.67.

The PNC Financial Services Group Company 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.