Azimuth Capital Investment Management LLC Raises Stock Holdings in The PNC Financial Services Group, Inc (NYSE:PNC)

Key Points

• Azimuth Capital Investment Management LLC has increased its stake in The PNC Financial Services Group by 14.0%, owning 59,231 shares valued at approximately $10.4 million as of the last quarter.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70 per share, offering a 3.5% dividend yield.
• Analysts have given The PNC Financial Services Group an average rating of "Moderate Buy" with an average target price of $214.17, reflecting strong investor interest.

Azimuth Capital Investment Management LLC increased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 14.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 59,231 shares of the financial services provider's stock after acquiring an additional 7,296 shares during the period. Azimuth Capital Investment Management LLC's holdings in The PNC Financial Services Group were worth $10,411,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its holdings 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 purchasing an additional 65 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth $35,000. REAP Financial Group LLC increased its stake in shares of The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after buying an additional 80 shares during the period. True Wealth Design LLC raised its holdings in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 59 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in The PNC Financial Services Group in the first quarter worth about $41,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the business'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 value of $210,829.50. Following the sale, the chief executive officer directly owned 554,879 shares of the company's stock, valued at approximately $94,190,710.25. The trade was a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 0.7%

PNC opened at $194.67 on Friday. The firm has a market capitalization of $76.66 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.43 and a beta of 1.09. The company's 50 day simple moving average is $188.72 and its two-hundred day simple moving average is $179.78. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced 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 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 firm posted $3.39 earnings per share. The PNC Financial Services Group's quarterly revenue was up 4.6% on a year-over-year basis. 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 firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.5%. 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. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Analyst Ratings Changes

PNC has been the subject of a number of analyst reports. Citigroup upped their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. TD Cowen initiated 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 price target for the company. Bank of America raised their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their price objective for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group raised their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average 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.

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