The PNC Financial Services Group, Inc $PNC Shares Sold by Avanza Fonder AB

Key Points

• Avanza Fonder AB reduced its stake in The PNC Financial Services Group by 14.2% during the second quarter, selling 4,383 shares, and now holds a total of 26,495 shares valued at approximately $4.94 million.
• PNC Financial Services reported $3.85 earnings per share for the last quarter, exceeding estimates, and has a dividend yield of 3.3% after increasing its quarterly dividend to $1.70 per share.
• Analysts have recently upgraded PNC's stock ratings, with a consensus target price of $213.94, reflecting a moderately positive outlook on the company.

Avanza Fonder AB lessened its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,495 shares of the financial services provider's stock after selling 4,383 shares during the quarter. Avanza Fonder AB's holdings in The PNC Financial Services Group were worth $4,939,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Rockland Trust Co. boosted its holdings in The PNC Financial Services Group by 0.5% in the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock valued at $1,957,000 after purchasing an additional 53 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 58 shares in the last quarter. PKS Advisory Services LLC boosted its stake in shares of The PNC Financial Services Group by 3.2% in the first quarter. PKS Advisory Services LLC now owns 1,910 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 60 shares during the period. Cornerstone Planning Group LLC increased its holdings in The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 65 shares during the last quarter. Finally, WealthPLAN Partners LLC lifted its holdings in shares of The PNC Financial Services Group by 0.5% in the 1st quarter. WealthPLAN Partners LLC now owns 12,629 shares of the financial services provider's stock worth $2,220,000 after purchasing an additional 66 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 1.0%

Shares of PNC stock traded down $2.04 during mid-day trading on Monday, reaching $203.48. The stock had a trading volume of 1,216,678 shares, compared to its average volume of 1,503,142. The firm has a market capitalization of $80.13 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. 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's 50-day moving average price is $197.66 and its two-hundred day moving average price is $181.27. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week 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 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 business had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. During the same period in the prior year, the firm posted $3.39 EPS. The firm's quarterly revenue 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. Equities 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 disclosed 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 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, July 15th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is 46.51%.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Truist Financial raised their target price on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Raymond James Financial boosted their price objective on The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Citigroup lifted their price target on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. 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 company. Based on data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average price target of $213.94.

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.