Candriam S.C.A. Purchases 2,388 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Candriam S.C.A. increased its stake in The PNC Financial Services Group by 1.0%, purchasing an additional 2,388 shares, bringing its total ownership to approximately 243,980 shares valued at $42.88 million.
• The CEO, William S. Demchak, sold 1,242 shares at an average price of $169.75, resulting in a decrease of his holdings to approximately 554,879 shares valued at $94.19 million.
• The PNC Financial Services Group recently announced a quarterly dividend increase to $1.70 per share, representing an annualized dividend yield of 3.5% and a payout ratio of 46.51%.

Candriam S.C.A. lifted its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,980 shares of the financial services provider's stock after buying an additional 2,388 shares during the quarter. Candriam S.C.A. owned approximately 0.06% of The PNC Financial Services Group worth $42,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake 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 purchasing an additional 65 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter worth about $35,000. REAP Financial Group LLC boosted its position in The PNC Financial Services Group by 67.2% in 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 last quarter. True Wealth Design LLC boosted 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 buying an additional 59 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in The PNC Financial Services Group in the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 83.53% of the company's stock.

Insider Buying and Selling at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total transaction of $210,829.50. Following the completion of the transaction, the chief executive officer directly owned 554,879 shares in the company, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE PNC opened at $192.8140 on Wednesday. The stock has a market cap of $75.93 billion, a PE ratio of 13.19, a P/E/G ratio of 1.42 and a beta of 1.09. 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, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The stock has a fifty day simple moving average of $189.51 and a 200-day simple moving average of $179.43.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The business 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 was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. 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 currently 46.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PNC. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their price target for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. TD Cowen assumed coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They set a "buy" rating and a $233.00 target price for the company. Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Tuesday, July 8th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. One research 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 issued a Sell rating to the stock. According to MarketBeat.com, The PNC Financial Services Group currently has an average 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.

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