Great Lakes Advisors LLC Sells 3,317 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Great Lakes Advisors LLC has reduced its stake in The PNC Financial Services Group by 2.5%, selling 3,317 shares but still holding 128,563 shares valued at approximately $22.6 million.
• Multiple analysts have recently upgraded PNC's ratings; notably, Keefe, Bruyette & Woods changed their rating from "underperform" to "market perform" and raised the target price to $212.
• The company increased its quarterly dividend from $1.60 to $1.70, representing a 3.3% yield and an annualized amount of $6.80, with a payout ratio of 46.51%.

Great Lakes Advisors LLC trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,563 shares of the financial services provider's stock after selling 3,317 shares during the quarter. Great Lakes Advisors LLC's holdings in The PNC Financial Services Group were worth $22,597,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Saudi Central Bank bought a new stake in The PNC Financial Services Group during the first quarter worth approximately $27,000. Cornerstone Planning Group LLC boosted its holdings 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 purchasing an additional 65 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $35,000. WPG Advisers LLC purchased a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $36,000. Finally, REAP Financial Group LLC boosted its holdings in shares of 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 purchasing an additional 80 shares during the period. Institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their target price for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. 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 on the stock in a research report on Tuesday, July 8th. TD Cowen assumed 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. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Finally, The Goldman Sachs Group lifted their price target on 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 Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Stock Performance

NYSE:PNC opened at $204.51 on Monday. 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 $80.54 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.51 and a beta of 1.11. The company's 50-day moving average is $195.96 and its two-hundred day moving average is $179.90. 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 released 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 PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. During the same period in the prior year, the firm posted $3.39 earnings per share. The firm's quarterly 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. Analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current 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 issued a $1.70 dividend. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is currently 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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