Procyon Advisors LLC Lowers Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Procyon Advisors LLC has significantly reduced its stake in The PNC Financial Services Group, decreasing its position by 78.5% during the second quarter, now holding only 3,382 shares valued at approximately $630,000.
• Several other institutional investors, including Massachusetts Financial Services Co. and AQR Capital Management LLC, have significantly increased their positions in PNC, reflecting high institutional ownership at 83.53%.
• The PNC Financial Services Group recently announced a dividend increase to $1.70 per share, up from $1.60, indicating a healthy payout ratio of 46.51%.

Procyon Advisors LLC decreased its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 78.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,382 shares of the financial services provider's stock after selling 12,362 shares during the period. Procyon Advisors LLC's holdings in The PNC Financial Services Group were worth $630,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PNC. Massachusetts Financial Services Co. MA lifted 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 valued at $1,670,249,000 after purchasing an additional 1,964,157 shares during the last quarter. Nuveen LLC bought a new position in The PNC Financial Services Group in the first quarter valued at approximately $306,905,000. GAMMA Investing LLC increased its stake in The PNC Financial Services Group by 19,279.5% in the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after acquiring an additional 1,143,079 shares during the last quarter. Amundi grew its stake in shares of The PNC Financial Services Group by 76.1% during the first quarter. Amundi now owns 2,186,073 shares of the financial services provider's stock worth $352,592,000 after buying an additional 944,731 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 187.3% during 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 during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Raymond James Financial boosted their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday. Morgan Stanley upped their price objective on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Finally, Piper Sandler upped their price objective on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. One investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $213.94.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded down $0.74 during trading on Friday, reaching $205.53. 3,001,178 shares of the company's stock traded hands, compared to its average volume of 1,444,857. 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 current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $80.94 billion, a P/E ratio of 14.06, a PEG ratio of 1.52 and a beta of 1.11. The firm's 50-day moving average is $197.54 and its 200 day moving average is $181.09.

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 (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same period in the previous year, the business earned $3.39 earnings per share. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, July 15th. 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 is 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.