Flavin Financial Services Inc. Buys Shares of 13,966 The PNC Financial Services Group, Inc $PNC

Flavin Financial Services Inc. purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,966 shares of the financial services provider’s stock, valued at approximately $3,439,000. The PNC Financial Services Group makes up about 2.0% of Flavin Financial Services Inc.’s investment portfolio, making the stock its 16th biggest position.

A number of other large investors have also added to or reduced their stakes in PNC. Truist Financial Corp boosted its stake in The PNC Financial Services Group by 3.3% in the fourth quarter. Truist Financial Corp now owns 1,242,483 shares of the financial services provider’s stock valued at $259,344,000 after acquiring an additional 39,589 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of The PNC Financial Services Group by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 38,873,991 shares of the financial services provider’s stock worth $8,114,168,000 after purchasing an additional 408,464 shares during the period. Stoneridge Investment Partners LLC lifted its stake in The PNC Financial Services Group by 59.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 23,727 shares of the financial services provider’s stock valued at $4,953,000 after purchasing an additional 8,818 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $35,124,000. Finally, Empire Life Investments Inc. lifted its position in shares of The PNC Financial Services Group by 8.7% during the 4th quarter. Empire Life Investments Inc. now owns 217,119 shares of the financial services provider’s stock valued at $45,319,000 after buying an additional 17,418 shares during the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 0.0%

PNC opened at $243.05 on Monday. The business’s fifty day simple moving average is $248.28 and its 200 day simple moving average is $229.35. The PNC Financial Services Group, Inc has a 52 week low of $176.88 and a 52 week high of $258.96. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.34. The stock has a market cap of $96.96 billion, a PE ratio of 13.38, a P/E/G ratio of 0.96 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter in the previous year, the company posted $3.85 earnings per share. The company’s revenue was up 21.4% compared to the same quarter last year. As a group, research analysts expect that The PNC Financial Services Group, Inc will post 19.25 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The PNC Financial Services Group’s dividend payout ratio is presently 44.03%.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total transaction of $9,925,650.00. Following the transaction, the director directly owned 10,749 shares of the company’s stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephanie Novosel sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the completion of the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. The trade was a 36.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 51,654 shares of company stock worth $11,552,661. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $270.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Barclays boosted their price target on shares of The PNC Financial Services Group from $277.00 to $284.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Citigroup lifted their price objective on The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of The PNC Financial Services Group in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $265.73.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.