The PNC Financial Services Group, Inc $PNC Shares Purchased by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC increased its holdings in The PNC Financial Services Group by 90.4% in the first quarter, owning 37,226 shares valued at $6,543,000.
• The PNC Financial Services Group recently reported $3.85 EPS, surpassing analyst estimates, with a net margin of 18.33% and revenue of $3.01 billion.
• The company announced a quarterly dividend increase to $1.70 per share, up from $1.60, representing an annualized yield of 3.3%.

Magnetar Financial LLC boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 90.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,226 shares of the financial services provider's stock after buying an additional 17,676 shares during the period. Magnetar Financial LLC's holdings in The PNC Financial Services Group were worth $6,543,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Ignite Planners LLC raised its position in The PNC Financial Services Group by 8.4% during the 1st quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider's stock worth $262,000 after buying an additional 126 shares during the last quarter. Exane Asset Management increased its position in shares of The PNC Financial Services Group by 32.9% in the first quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock worth $28,434,000 after acquiring an additional 37,110 shares in the last quarter. Smith Salley Wealth Management boosted its position in The PNC Financial Services Group by 15.6% in the 1st quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider's stock valued at $12,804,000 after buying an additional 9,836 shares during the last quarter. United Community Bank raised its stake in shares of The PNC Financial Services Group by 687.0% in the 1st quarter. United Community Bank now owns 12,325 shares of the financial services provider's stock valued at $2,166,000 after purchasing an additional 10,759 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its holdings in The PNC Financial Services Group by 4.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock worth $493,000 after buying an additional 120 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Morgan Stanley increased their price objective on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. TD Cowen started coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price target for the company. The Goldman Sachs Group increased their price objective on 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, Citigroup boosted their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Trading Up 1.0%

PNC traded up $2.09 on Friday, hitting $207.71. 2,045,627 shares of the company were exchanged, compared to its average volume of 1,545,309. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day simple moving average of $193.71 and a two-hundred day simple moving average of $179.48. The stock has a market capitalization of $81.80 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month 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 PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter last year, the firm earned $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. Sell-side 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 3.3%. The ex-dividend date of this dividend was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

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.