Flavin Financial Services Inc. Sells 927 Shares of The PNC Financial Services Group, Inc $PNC

Flavin Financial Services Inc. decreased its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 7.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,963 shares of the financial services provider’s stock after selling 927 shares during the quarter. The PNC Financial Services Group accounts for approximately 2.2% of Flavin Financial Services Inc.’s holdings, making the stock its 17th biggest holding. Flavin Financial Services Inc.’s holdings in The PNC Financial Services Group were worth $2,230,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PNC. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider’s stock worth $6,673,217,000 after acquiring an additional 248,252 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in The PNC Financial Services Group by 26.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock worth $1,670,249,000 after acquiring an additional 1,964,157 shares during the last quarter. Ameriprise Financial Inc. lifted its position in The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after purchasing an additional 24,588 shares during the period. Bank of New York Mellon Corp lifted its position in The PNC Financial Services Group by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock valued at $713,063,000 after purchasing an additional 186,249 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in The PNC Financial Services Group by 41.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after purchasing an additional 830,440 shares during the period. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of PNC opened at $179.30 on Friday. The stock has a market capitalization of $70.61 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.24 and a beta of 1.10. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a 50 day moving average of $198.10 and a 200-day moving average of $183.85. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.05 by $0.30. The PNC Financial Services Group had a net margin of 19.30% and a return on equity of 11.47%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the business earned $3.49 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group’s dividend payout ratio is 43.93%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PNC shares. Wolfe Research restated a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Truist Financial increased their price target on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the company a “hold” rating in a research report on Wednesday, September 24th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a report on Thursday. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an “underweight” rating in a report on Monday, September 29th. Finally, Wells Fargo & Company raised their target price on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.47.

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.