NewEdge Advisors LLC Reduces Position in The PNC Financial Services Group, Inc $PNC

Key Points

• NewEdge Advisors LLC has decreased its stake in The PNC Financial Services Group by 10.4%, selling 3,178 shares, with its holdings valued at approximately $4.8 million by the end of the last quarter.
• In contrast, other hedge funds like Massachusetts Financial Services Co. and GAMMA Investing LLC increased their holdings significantly, signaling diverse investor sentiment towards PNC.
• The PNC Financial Services Group recently reported earnings per share (EPS) of $3.85 for the last quarter, exceeding analysts' expectations, while also declaring an increased quarterly dividend to $1.70 per share.

NewEdge Advisors LLC lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,344 shares of the financial services provider's stock after selling 3,178 shares during the period. NewEdge Advisors LLC's holdings in The PNC Financial Services Group were worth $4,806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of The PNC Financial Services Group by 247.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,110 shares of the financial services provider's stock valued at $24,627,000 after acquiring an additional 99,801 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in The PNC Financial Services Group by 2.7% in the first quarter. Integrated Wealth Concepts LLC now owns 7,355 shares of the financial services provider's stock worth $1,293,000 after buying an additional 196 shares in the last quarter. Curi RMB Capital LLC raised its stake in The PNC Financial Services Group by 22.6% in the first quarter. Curi RMB Capital LLC now owns 7,355 shares of the financial services provider's stock worth $1,293,000 after buying an additional 1,356 shares in the last quarter. Alliancebernstein L.P. raised its stake in The PNC Financial Services Group by 8.6% in the first quarter. Alliancebernstein L.P. now owns 581,671 shares of the financial services provider's stock worth $102,240,000 after buying an additional 46,187 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 187.3% in the first quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider's stock worth $245,055,000 after buying an additional 926,709 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PNC. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Tuesday, July 8th. 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. Finally, Citigroup boosted their price objective on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $213.67.

The PNC Financial Services Group Stock Down 0.3%

Shares of PNC stock traded down $0.60 during trading hours on Friday, reaching $202.15. 1,015,305 shares of the company's stock were exchanged, compared to its average volume of 1,524,116. The stock's 50 day moving average is $196.88 and its 200-day moving average is $180.52. The company has a market cap of $79.61 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.50 and a beta of 1.11. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly 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 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 return on equity of 11.07% and a net margin of 18.33%.The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior 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. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal 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 issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis 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 of this dividend was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

The PNC Financial Services Group Company 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.