Ascent Group LLC Boosts Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Ascent Group LLC increased its stake in The PNC Financial Services Group by 29.8%, purchasing an additional 2,479 shares, bringing its total holdings to 10,790 shares valued at approximately $1.9 million.
• The PNC Financial Services Group reported $3.85 earnings per share, exceeding analyst expectations, and achieved a 4.6% year-over-year revenue growth with quarterly revenue of $3.01 billion.
• The firm recently announced a dividend increase to $1.70 per share, up from $1.60, reflecting a robust 3.4% yield and indicating strong financial health.

Ascent Group LLC raised its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 29.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,790 shares of the financial services provider's stock after purchasing an additional 2,479 shares during the period. Ascent Group LLC's holdings in The PNC Financial Services Group were worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted 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 during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $35,000. WPG Advisers LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $36,000. Finally, REAP Financial Group LLC lifted its stake in shares of 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 acquiring an additional 80 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Up 1.4%

PNC stock traded up $2.86 on Wednesday, hitting $206.32. 1,762,604 shares of the company's stock were exchanged, compared to its average volume of 1,551,390. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The firm has a 50 day moving average price of $191.87 and a two-hundred day moving average price of $179.40. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $81.25 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the business earned $3.39 EPS. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

Analyst Ratings Changes

Several research analysts have commented on PNC shares. Citigroup raised their price objective 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. Truist Financial raised their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Morgan Stanley raised their price objective on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" 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. Finally, Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group 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.