The PNC Financial Services Group, Inc $PNC Shares Sold by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its holdings in The PNC Financial Services Group by 33.0%, selling 151,125 shares in the first quarter, leaving them with approximately 306,732 shares valued at $53,368,000.
• The PNC Financial Services Group reported $3.85 EPS for the latest quarter, surpassing analyst estimates by $0.29, while revenue increased 4.6% year-over-year.
• The company announced a dividend increase from $1.60 to $1.70 per share, resulting in an annualized dividend yield of 3.6%.

Aberdeen Group plc lowered its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 33.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 306,732 shares of the financial services provider's stock after selling 151,125 shares during the period. Aberdeen Group plc owned about 0.08% of The PNC Financial Services Group worth $53,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Brighton Jones LLC raised its position in The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after acquiring an additional 984 shares during the last quarter. Guggenheim Capital LLC raised its position in The PNC Financial Services Group by 37.3% during the fourth quarter. Guggenheim Capital LLC now owns 40,013 shares of the financial services provider's stock worth $7,717,000 after acquiring an additional 10,874 shares during the last quarter. Jump Financial LLC raised its position in The PNC Financial Services Group by 14.6% during the fourth quarter. Jump Financial LLC now owns 2,503 shares of the financial services provider's stock worth $483,000 after acquiring an additional 318 shares during the last quarter. NewEdge Advisors LLC raised its position in The PNC Financial Services Group by 9.0% during the fourth quarter. NewEdge Advisors LLC now owns 30,522 shares of the financial services provider's stock worth $5,886,000 after acquiring an additional 2,519 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $2,945,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Insider Buying and Selling

In related news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer owned 554,879 shares of the company's stock, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 1.0%

Shares of NYSE PNC traded up $2.0220 during midday trading on Wednesday, reaching $195.0120. 1,006,005 shares of the stock were exchanged, compared to its average volume of 2,324,406. The company has a market capitalization of $76.80 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.42 and a beta of 1.09. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The stock has a 50 day moving average price of $189.51 and a 200-day moving average price of $179.43.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the prior year, the business posted $3.39 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 4.6% compared to the same quarter last year. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts expect 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 business also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.5%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.51%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of research reports. Bank of America lifted their target price on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. TD Cowen began coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. 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 target for the company in a report on Tuesday, July 8th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and an average price target of $214.17.

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.