Point72 Europe London LLP Reduces Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Point72 Europe London LLP has reduced its stake in The PNC Financial Services Group by 17.2%, now holding 118,792 shares valued at approximately $20.88 million.
• During the last quarter, several institutional investors increased their holdings in The PNC Financial Services Group, including AXA S.A., which increased its stake by 187.1%.
• The PNC Financial Services Group has recently increased its quarterly dividend to $1.70 per share, marking a rise from the previous $1.60, which reflects a 3.3% yield.

Point72 Europe London LLP decreased its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 17.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 118,792 shares of the financial services provider's stock after selling 24,702 shares during the period. The PNC Financial Services Group accounts for 1.4% of Point72 Europe London LLP's investment portfolio, making the stock its 17th largest position. Point72 Europe London LLP's holdings in The PNC Financial Services Group were worth $20,880,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PNC. 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 acquiring an additional 248,252 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 26.1% in the 1st 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 acquiring an additional 1,964,157 shares during the last quarter. Ameriprise Financial Inc. increased its stake in The PNC Financial Services Group by 0.5% in the 1st 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 during the last quarter. Bank of New York Mellon Corp increased its stake in 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 worth $713,063,000 after acquiring an additional 186,249 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in The PNC Financial Services Group by 5.3% in the 4th quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after acquiring an additional 179,760 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 1.0%

PNC stock traded down $2.03 during trading on Tuesday, hitting $205.41. 1,646,781 shares of the company traded hands, compared to its average volume of 1,465,881. The firm has a market capitalization of $80.89 billion, a PE ratio of 14.05, a P/E/G ratio of 1.53 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 company has a 50-day moving average of $194.71 and a 200-day moving average of $179.76. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to analysts' expectations 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 PNC Financial Services Group's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.39 EPS. 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 announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.3%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 46.51%.

Analyst Ratings Changes

A number of equities analysts have weighed in on PNC shares. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Truist Financial upped their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. The Goldman Sachs Group upped their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Finally, Citigroup upped their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

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.