Caisse DE Depot ET Placement DU Quebec Has $63.43 Million Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in The PNC Financial Services Group by 28.0% during the first quarter, now holding approximately $63.43 million in shares.
• The PNC Financial Services Group reported earnings of $3.85 EPS for the latest quarter, surpassing analysts' expectations and achieving a revenue of $3.01 billion.
• PNC announced a quarterly dividend increase to $1.70, reflecting a boosted annualized dividend of $6.80 and a yield of 3.4%.

Caisse DE Depot ET Placement DU Quebec lowered its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 28.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 360,883 shares of the financial services provider's stock after selling 140,328 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.09% of The PNC Financial Services Group worth $63,432,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC raised its position in 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 purchasing an additional 59 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in shares of 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 period. WealthPLAN Partners LLC raised its holdings in 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 valued at $2,220,000 after buying an additional 66 shares during the last quarter. Y.D. More Investments Ltd boosted its position in The PNC Financial Services Group by 13.8% during the 1st quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider's stock worth $98,000 after buying an additional 68 shares during the period. Finally, Spire Wealth Management grew its holdings in The PNC Financial Services Group by 2.2% during the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock worth $573,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $200.8050 on Tuesday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The firm has a market capitalization of $79.08 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.49 and a beta of 1.09. The firm's 50-day moving average price is $191.26 and its 200-day moving average price is $179.23. 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 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 EPS for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The firm 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 revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. 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. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PNC. Raymond James Financial upgraded shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research report 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 objective for the company. Finally, Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One investment 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $214.17.

About The PNC Financial Services Group

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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