Smartleaf Asset Management LLC Sells 1,280 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Smartleaf Asset Management LLC decreased its stake in The PNC Financial Services Group by 12.1% during the first quarter, resulting in ownership of 9,328 shares valued at approximately $1.6 million.
• Despite this reduction, other institutional investors including Cornerstone Planning Group LLC and REAP Financial Group LLC have notably increased their positions, with Cornerstone expanding its stake by 50.8%.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70 per share, reflecting a strong payout ratio of 46.51% and a yield of 3.4%.

Smartleaf Asset Management LLC trimmed its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 12.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,328 shares of the financial services provider's stock after selling 1,280 shares during the period. Smartleaf Asset Management LLC's holdings in The PNC Financial Services Group were worth $1,603,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC boosted its holdings 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 acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $35,000. REAP Financial Group LLC lifted its stake in shares of The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after buying an additional 80 shares during the period. True Wealth Design LLC lifted its stake in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at about $41,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PNC shares. Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. The Goldman Sachs Group increased their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. TD Cowen initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective for the company. Finally, Truist Financial increased their price target on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. One equities 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $0.32 during trading on Thursday, hitting $205.72. 1,882,505 shares of the stock were exchanged, compared to its average volume of 2,300,580. The stock has a market capitalization of $81.02 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09. The company has a fifty day moving average price of $192.49 and a 200-day moving average price of $179.59. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were paid a $1.70 dividend. 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 a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's payout ratio is currently 46.51%.

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.