Corebridge Financial Inc. Has $16.73 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Corebridge Financial Inc. has reduced its stake in The PNC Financial Services Group by 3.5%, holding 95,170 shares worth approximately $16.73 million as of the end of the first quarter.
• Several analysts have upgraded their ratings for The PNC Financial Services Group, with target prices ranging from $198.00 to $233.00, reflecting positive sentiment towards the company's growth.
• The PNC Financial Services Group has recently increased its quarterly dividend from $1.60 to $1.70, resulting in an annualized dividend of $6.80 and a yield of 3.4%.

Corebridge Financial Inc. lowered its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,170 shares of the financial services provider's stock after selling 3,409 shares during the period. Corebridge Financial Inc.'s holdings in The PNC Financial Services Group were worth $16,728,000 at the end of the most recent quarter.

Other large investors have also 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% during the first 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 The PNC Financial Services Group in the first quarter worth approximately $35,000. REAP Financial Group LLC boosted its holdings 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 worth $38,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC boosted its holdings 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 worth $39,000 after acquiring an additional 59 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in The PNC Financial Services Group in the first quarter worth approximately $41,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price target for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Truist Financial raised their target price on 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. Morgan Stanley raised their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Bank of America raised their target price on 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. Finally, TD Cowen started coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 target price on the stock. One equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $214.17.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $200.8050 on Tuesday. 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 business has a fifty day simple moving average of $191.26 and a two-hundred day simple moving average of $179.23. 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 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.61 billion. During the same period last year, the business posted $3.39 earnings per share. The business's revenue for the quarter 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, analysts expect 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 business also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given 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 was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 46.51%.

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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