Jump Financial LLC Boosts Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Jump Financial LLC significantly increased its stake in The PNC Financial Services Group by 3,863.7%, acquiring 96,708 additional shares, which brought their total holdings to 99,211 shares valued at approximately $17.4 million.
• The company reported $3.85 earnings per share for the last quarter, exceeding analysts' expectations of $3.56, along with a 4.6% increase in quarterly revenue compared to the same period last year.
• The PNC Financial Services Group recently raised its quarterly dividend from $1.60 to $1.70, resulting in an annualized dividend of $6.80 and a yield of 3.4%.

Jump Financial LLC grew its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 3,863.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,211 shares of the financial services provider's stock after purchasing an additional 96,708 shares during the quarter. Jump Financial LLC's holdings in The PNC Financial Services Group were worth $17,438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Haverford Trust Co grew its holdings in The PNC Financial Services Group by 5.0% in the first quarter. Haverford Trust Co now owns 13,685 shares of the financial services provider's stock worth $2,405,000 after purchasing an additional 657 shares during the last quarter. Sax Wealth Advisors LLC grew its holdings in The PNC Financial Services Group by 35.8% in the first quarter. Sax Wealth Advisors LLC now owns 2,156 shares of the financial services provider's stock worth $379,000 after purchasing an additional 568 shares during the last quarter. AlphaQuest LLC grew its holdings in The PNC Financial Services Group by 320.4% in the first quarter. AlphaQuest LLC now owns 29,457 shares of the financial services provider's stock worth $5,178,000 after purchasing an additional 22,450 shares during the last quarter. Allstate Corp grew its holdings in The PNC Financial Services Group by 40.6% in the first quarter. Allstate Corp now owns 17,010 shares of the financial services provider's stock worth $2,990,000 after purchasing an additional 4,916 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in The PNC Financial Services Group by 0.5% in the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after purchasing an additional 24,588 shares during the last quarter. 83.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Finally, Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective on the stock in a report on Wednesday, July 30th. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $214.17.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded up $2.86 during trading hours on Wednesday, reaching $206.32. The stock had a trading volume of 1,762,601 shares, compared to its average volume of 2,308,623. The stock's 50 day moving average is $191.87 and its 200 day moving average is $179.40. The firm has a market capitalization of $81.25 billion, a PE ratio of 14.11, a PEG ratio of 1.49 and a beta of 1.09. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month 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 released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share 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 firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the firm earned $3.39 EPS. The company's revenue for the quarter 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. Equities analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend 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 is currently 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.