Caxton Associates LLP Purchases Shares of 9,961 The PNC Financial Services Group, Inc $PNC

Key Points

• Caxton Associates LLP has acquired a new stake in The PNC Financial Services Group by purchasing 9,961 shares valued at approximately $1,751,000.
• Investment movements include Massachusetts Financial Services Co. increasing its stake by 26.1%, now holding over 9.5 million shares worth around $1.67 billion.
• The PNC Financial Services Group recently increased its quarterly dividend to $1.70 per share, reflecting an annualized yield of 3.3%.

Caxton Associates LLP purchased a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,961 shares of the financial services provider's stock, valued at approximately $1,751,000.

Several other institutional investors also recently modified their holdings of PNC. Sciencast Management LP bought a new stake in The PNC Financial Services Group during the 1st quarter valued at about $3,618,000. Voleon Capital Management LP bought a new stake in The PNC Financial Services Group during the 1st quarter valued at about $993,000. Goldman Sachs Group Inc. increased its stake 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 in the last quarter. Kestra Investment Management LLC increased its stake in The PNC Financial Services Group by 11.4% during the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 58 shares in the last quarter. Finally, Resources Management Corp CT ADV increased its stake in The PNC Financial Services Group by 0.8% during the 1st quarter. Resources Management Corp CT ADV now owns 31,604 shares of the financial services provider's stock valued at $5,555,000 after purchasing an additional 260 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.60 on Friday, reaching $202.15. The company's stock had a trading volume of 1,015,305 shares, compared to its average volume of 1,524,116. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $79.61 billion, a P/E ratio of 13.83, a PEG ratio of 1.50 and a beta of 1.11. The stock's 50 day simple moving average is $196.88 and its two-hundred day simple moving average is $180.52. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The PNC Financial Services Group's payout ratio is 46.51%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Oppenheimer upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective for the company in a research note on Wednesday, July 30th. Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their price objective for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. Truist Financial raised their price target on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Finally, Stephens reaffirmed an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $213.67.

About The PNC Financial Services Group

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.