Kayne Anderson Rudnick Investment Management LLC Sells 4,195 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Kayne Anderson Rudnick Investment Management LLC sold 4,195 shares of The PNC Financial Services Group, reducing its holdings by 1.6% and currently owning 250,325 shares valued at $44 million.
• The PNC Financial Services Group reported $3.85 earnings per share for the last quarter, surpassing estimates, while also increasing its quarterly dividend from $1.60 to $1.70 per share.
• Significant recent institutional investments include a 26.1% stake increase by Massachusetts Financial Services Co. and a new position by Nuveen LLC worth approximately $306.9 million.

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,325 shares of the financial services provider's stock after selling 4,195 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.06% of The PNC Financial Services Group worth $44,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock worth $6,673,217,000 after purchasing an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after buying an additional 1,964,157 shares during the period. Ameriprise Financial Inc. increased its position in shares of The PNC Financial Services Group by 0.5% in the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after acquiring an additional 24,588 shares in the last quarter. Northern Trust Corp raised its holdings in shares of The PNC Financial Services Group by 14.9% during the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock valued at $905,530,000 after acquiring an additional 608,375 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock valued at $713,063,000 after acquiring an additional 186,249 shares in the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 1.4%

NYSE:PNC traded up $2.86 during trading hours on Wednesday, reaching $206.32. The company's stock had a trading volume of 1,762,604 shares, compared to its average volume of 1,551,390. 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 company has a market cap of $81.25 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The business's 50-day moving average is $192.49 and its 200-day moving average is $179.59.

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 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The firm 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 business's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current 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. The ex-dividend date was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Analysts Set New Price Targets

PNC has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of 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 report on Tuesday, July 8th. TD Cowen started coverage on The PNC Financial Services Group in a research report on Thursday, May 15th. They set a "buy" rating and a $233.00 price target on the stock. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price objective for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, Oppenheimer raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 target price on the stock in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.