The PNC Financial Services Group, Inc $PNC Position Lifted by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in The PNC Financial Services Group by 732.9% during the first quarter, holding 96,584 shares valued at approximately $16.98 million.
• Several institutional investors, including AXA S.A. and Aptus Capital Advisors LLC, significantly raised their positions in The PNC Financial Services Group, indicating strong interest in the stock.
• The company's quarterly earnings exceeded expectations, with a reported EPS of $3.85, and it raised its dividend to $1.70 per share, reflecting a positive outlook for its financial performance.

Panagora Asset Management Inc. grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 732.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,584 shares of the financial services provider's stock after buying an additional 84,988 shares during the quarter. Panagora Asset Management Inc.'s holdings in The PNC Financial Services Group were worth $16,977,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PNC. PKS Advisory Services LLC grew its position in shares of The PNC Financial Services Group by 3.2% in the first quarter. PKS Advisory Services LLC now owns 1,910 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 60 shares during the last quarter. Cornerstone Planning Group LLC raised its position in The PNC Financial Services Group by 50.8% during 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 in the last quarter. WealthPLAN Partners LLC raised its position in The PNC Financial Services Group by 0.5% during the first quarter. WealthPLAN Partners LLC now owns 12,629 shares of the financial services provider's stock valued at $2,220,000 after purchasing an additional 66 shares in the last quarter. Y.D. More Investments Ltd boosted its position in The PNC Financial Services Group by 13.8% in the first quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider's stock valued at $98,000 after buying an additional 68 shares in the last quarter. Finally, Spire Wealth Management boosted its position in The PNC Financial Services Group by 2.2% in the first quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock valued at $573,000 after buying an additional 69 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Down 1.1%

Shares of NYSE PNC traded down $2.27 during mid-day trading on Friday, reaching $205.09. 589,944 shares of the company were exchanged, compared to its average volume of 2,281,093. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. The stock has a market cap of $80.77 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.51 and a beta of 1.11. 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 50-day moving average of $195.59 and a 200 day moving average of $180.03.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 firm's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, July 15th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's payout ratio is 46.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. TD Cowen began coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective on the stock. Bank of America increased their target price 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. Oppenheimer raised shares of 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 report on Wednesday, July 30th. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their price objective for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average target price of $214.17.

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.