Allstate Corp Has $2.99 Million Stock Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Allstate Corp increased its holdings in The PNC Financial Services Group by 40.6%, acquiring an additional 4,916 shares, bringing its total to 17,010 shares worth approximately $2,990,000.
• The PNC Financial Services Group reported a quarterly EPS of $3.85, exceeding analysts' expectations of $3.56, with revenue showing a year-over-year increase of 4.6%.
• The company announced a quarterly dividend increase to $1.70 from $1.60, reflecting a positive payout ratio of 46.51% and an annualized dividend yield of 3.4%.

Allstate Corp raised its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 40.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,010 shares of the financial services provider's stock after purchasing an additional 4,916 shares during the quarter. Allstate Corp's holdings in The PNC Financial Services Group were worth $2,990,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PNC. True Wealth Design LLC lifted its stake in shares of The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 59 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 65 shares in the last quarter. WealthPLAN Partners LLC increased its holdings in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. WealthPLAN Partners LLC now owns 12,629 shares of the financial services provider's stock valued at $2,220,000 after acquiring an additional 66 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of The PNC Financial Services Group by 13.8% in the 1st quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 68 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in The PNC Financial Services Group by 2.2% in the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock worth $573,000 after purchasing an additional 69 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Performance

Shares of NYSE PNC traded up $2.86 during mid-day trading on Wednesday, hitting $206.32. The company had a trading volume of 1,762,175 shares, compared to its average volume of 2,305,497. The business's 50-day simple moving average is $191.87 and its 200-day simple moving average is $179.40. 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 firm has a market cap of $81.25 billion, a P/E ratio of 14.11, a PEG ratio of 1.49 and a beta of 1.09. 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 released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The PNC Financial Services Group's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were issued a dividend of $1.70 per share. 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 yield of 3.3%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PNC. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. TD Cowen initiated coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 target price 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 target price on the stock in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their price target for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Finally, Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and an average target price of $214.17.

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.