Royal Bank of Canada Cuts Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Royal Bank of Canada reduced its stake in The PNC Financial Services Group by 7.2%, selling 256,956 shares in the first quarter, and now holds 3,316,206 shares valued at approximately $582.89 million.
• The PNC Financial Services Group recently announced a quarterly dividend increase to $1.70 per share, representing an annualized amount of $6.80 and a yield of 3.3%.
• PNC's stock opened at $207.71 with a market capitalization of $81.80 billion, reporting a net margin of 18.33% and a return on equity of 11.07% for the last quarter.

Royal Bank of Canada reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,316,206 shares of the financial services provider's stock after selling 256,956 shares during the quarter. Royal Bank of Canada owned 0.84% of The PNC Financial Services Group worth $582,890,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PNC. Brighton Jones LLC grew its stake in shares of The PNC Financial Services Group by 32.2% during the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after acquiring an additional 984 shares during the period. AlTi Global Inc. grew its stake in shares of The PNC Financial Services Group by 74.3% during the 4th quarter. AlTi Global Inc. now owns 4,547 shares of the financial services provider's stock valued at $894,000 after acquiring an additional 1,938 shares during the period. AXA S.A. grew its stake in shares of The PNC Financial Services Group by 187.1% during the 4th quarter. AXA S.A. now owns 43,935 shares of the financial services provider's stock valued at $8,473,000 after acquiring an additional 28,631 shares during the period. Aptus Capital Advisors LLC lifted its holdings in The PNC Financial Services Group by 269.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 22,168 shares of the financial services provider's stock worth $4,275,000 after purchasing an additional 16,175 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in The PNC Financial Services Group by 2.5% in the 4th quarter. Ancora Advisors LLC now owns 9,214 shares of the financial services provider's stock worth $1,777,000 after purchasing an additional 222 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Down 1.4%

PNC traded down $2.85 during trading on Friday, reaching $204.51. The company had a trading volume of 1,272,975 shares, compared to its average volume of 2,285,338. The stock has a market cap of $80.54 billion, a P/E ratio of 13.99, a PEG ratio of 1.51 and a beta of 1.11. The business has a 50 day simple moving average of $195.59 and a 200-day simple moving average of $180.03. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26. 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 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 PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same period last year, the company earned $3.39 earnings per share. The PNC Financial Services Group's revenue 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. On average, equities analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a $1.70 dividend. The ex-dividend date was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a yield of 3.3%. The PNC Financial Services Group's payout ratio is 46.51%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PNC. TD Cowen began coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price target on the stock. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group increased their target price on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. 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, Citigroup increased their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.