Amundi Grows Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Amundi increased its investment in The PNC Financial Services Group by 76.1%, acquiring an additional 944,731 shares to own a total of 2,186,073 shares worth approximately $352.6 million.
• The PNC Financial Services Group recently raised its quarterly dividend to $1.70 per share, up from $1.60, resulting in an annualized dividend of $6.80 and a yield of 3.3%.
• Analysts have generally positive outlooks for PNC's stock, with an average price target of $214.17, including upgrades from firms like Goldman Sachs and Raymond James.

Amundi boosted its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 76.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,186,073 shares of the financial services provider's stock after buying an additional 944,731 shares during the period. Amundi owned 0.55% of The PNC Financial Services Group worth $352,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PNC. Saudi Central Bank acquired a new position in shares of The PNC Financial Services Group in the 1st quarter valued at $27,000. Cornerstone Planning Group LLC lifted its stake in 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. Opal Wealth Advisors LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth about $35,000. WPG Advisers LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth about $36,000. Finally, REAP Financial Group LLC increased its holdings in The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE:PNC traded down $0.69 during mid-day trading on Monday, reaching $203.71. 1,770,200 shares of the stock were exchanged, compared to its average volume of 2,282,335. The company has a 50 day simple moving average of $195.96 and a 200-day simple moving average of $179.90. The stock has a market capitalization of $80.22 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.51 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion during 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 company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Analysts anticipate 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. Shareholders of record on Tuesday, July 15th were given 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 annualized dividend and a yield of 3.3%. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.51%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PNC. Citigroup upped their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Bank of America upped their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Truist Financial increased their price objective on 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, Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price objective for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.