Baird Financial Group Inc. Has $80.44 Million Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Baird Financial Group Inc. reduced its stake in The PNC Financial Services Group by 0.5%, now owning approximately 0.12% of the company, worth about $80.44 million.
• The PNC Financial Services Group reported $3.85 earnings per share for the last quarter, surpassing the estimate of $3.56, and showed a 4.6% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.70 per share, up from the previous $1.60, reflecting a 3.3% dividend yield.

Baird Financial Group Inc. trimmed its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 457,644 shares of the financial services provider's stock after selling 2,430 shares during the period. Baird Financial Group Inc. owned 0.12% of The PNC Financial Services Group worth $80,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Panagora Asset Management Inc. grew its stake in The PNC Financial Services Group by 732.9% in the 1st quarter. Panagora Asset Management Inc. now owns 96,584 shares of the financial services provider's stock valued at $16,977,000 after buying an additional 84,988 shares during the last quarter. Vident Advisory LLC boosted its holdings in The PNC Financial Services Group by 33.3% during the first quarter. Vident Advisory LLC now owns 12,875 shares of the financial services provider's stock valued at $2,263,000 after acquiring an additional 3,215 shares during the period. Magnetar Financial LLC boosted its holdings in The PNC Financial Services Group by 90.4% during the first quarter. Magnetar Financial LLC now owns 37,226 shares of the financial services provider's stock valued at $6,543,000 after acquiring an additional 17,676 shares during the period. WPG Advisers LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth about $36,000. Finally, Trexquant Investment LP lifted its position in shares of The PNC Financial Services Group by 71.2% during the 1st quarter. Trexquant Investment LP now owns 65,939 shares of the financial services provider's stock worth $11,590,000 after purchasing an additional 27,416 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on PNC. Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research report on Tuesday, July 8th. Truist Financial increased their price target on shares of 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. Citigroup increased 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 report on Thursday, July 17th. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Finally, The Goldman Sachs Group increased their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Price Performance

NYSE:PNC traded down $0.42 during mid-day trading on Wednesday, reaching $205.00. 1,827,746 shares of the company were exchanged, compared to its average volume of 2,297,911. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The company has a fifty day moving average of $194.71 and a 200 day moving average of $179.76. 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 stock has a market cap of $80.73 billion, a PE ratio of 14.02, a PEG ratio of 1.53 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the prior year, the firm earned $3.39 EPS. The company's 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. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were paid a $1.70 dividend. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group's payout ratio is 46.51%.

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.