Flavin Financial Services Inc. Increases Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Flavin Financial Services Inc. grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 5.9% during the first quarter, Holdings Channel reports. The firm owned 12,890 shares of the financial services provider’s stock after purchasing an additional 717 shares during the quarter. The PNC Financial Services Group comprises about 2.1% of Flavin Financial Services Inc.’s holdings, making the stock its 17th largest position. 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 hedge funds have also made changes to their positions in PNC. Vanguard Group Inc. increased its stake in The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider’s stock worth $7,273,794,000 after buying an additional 268,827 shares during the period. Franklin Resources Inc. grew its stake in shares of The PNC Financial Services Group by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider’s stock worth $2,089,622,000 after acquiring an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of The PNC Financial Services Group by 10.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider’s stock worth $1,453,763,000 after acquiring an additional 726,115 shares during the period. Norges Bank acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $1,352,151,000. Finally, Northern Trust Corp boosted its holdings in The PNC Financial Services Group by 14.9% in the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock valued at $905,530,000 after purchasing an additional 608,375 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PNC. Hsbc Global Res upgraded The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday, March 31st. HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their target price for the stock from $206.00 to $202.00 in a research note on Monday, March 31st. Royal Bank Of Canada decreased their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Morgan Stanley lowered their price target on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group reduced their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $202.67.

Insider Activity at The PNC Financial Services Group

In other news, Director Martin Pfinsgraff acquired 1,000 shares of the company’s stock in a transaction on Friday, April 25th. The shares were bought at an average cost of $158.22 per share, with a total value of $158,220.00. Following the purchase, the director now owns 2,009 shares of the company’s stock, valued at $317,863.98. This represents a 99.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $174.78, for a total transaction of $217,076.76. Following the completion of the sale, the chief executive officer now owns 564,815 shares of the company’s stock, valued at $98,718,365.70. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,670 shares of company stock worth $2,099,398 in the last quarter. Company insiders own 0.41% of the company’s stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $182.55 on Thursday. The stock has a market cap of $72.21 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.53 and a beta of 1.06. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The stock has a 50 day moving average of $170.79 and a two-hundred day moving average of $180.61. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.08.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. The PNC Financial Services Group had a net margin of 17.68% and a return on equity of 10.95%. On average, research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Wednesday, April 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Wednesday, April 16th. The PNC Financial Services Group’s dividend payout ratio is currently 45.20%.

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.