Hazlett Burt & Watson Inc. Has $3.33 Million Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Hazlett Burt & Watson Inc. increased its position in The PNC Financial Services Group by 227.7%, owning 17,891 shares worth approximately $3.33 million as of the latest SEC filing.
• The PNC Financial Services Group reported an earnings per share of $3.85 for the last quarter, exceeding analysts' estimates by $0.29, with a revenue of $3.01 billion.
• The company announced a quarterly dividend of $1.70, which translates to an annualized yield of 3.7% and a payout ratio of 46.51%.

Hazlett Burt & Watson Inc. lifted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 227.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,891 shares of the financial services provider's stock after acquiring an additional 12,432 shares during the quarter. The PNC Financial Services Group makes up approximately 1.4% of Hazlett Burt & Watson Inc.'s portfolio, making the stock its 9th largest position. Hazlett Burt & Watson Inc.'s holdings in The PNC Financial Services Group were worth $3,332,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PNC. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $27,000. Cornerstone Planning Group LLC boosted its holdings in shares of The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 65 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $35,000. WPG Advisers LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $36,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $41,000. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 3.6%

Shares of PNC opened at $183.72 on Monday. The firm's 50 day simple moving average is $198.64 and its 200 day simple moving average is $183.62. The company has a market capitalization of $72.35 billion, a P/E ratio of 12.57, a P/E/G ratio of 1.28 and a beta of 1.10. 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, Inc has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The PNC Financial Services Group's quarterly revenue was up 4.6% on a year-over-year basis. During the same period 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. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.51%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PNC. Bank of America boosted their price target on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Citigroup upped their price objective on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. The Goldman Sachs Group upped 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 report on Wednesday, July 2nd. Finally, Oppenheimer lowered their price target on shares of The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating on the stock in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.21.

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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