The PNC Financial Services Group, Inc $PNC Shares Sold by Exane Asset Management

Key Points

• Exane Asset Management decreased its holdings in PNC Financial Services by 9.0% during the second quarter, now owning 136,375 shares valued at approximately $25.4 million.
• PNC Financial Services has recently raised its dividend from $1.60 to $1.70 per share, reflecting a 3.3% dividend yield.
• The company reported a quarterly EPS of $3.85, exceeding estimates, with a net margin of 18.33% and revenue growth of 4.6% year-over-year.

Exane Asset Management lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,375 shares of the financial services provider's stock after selling 13,408 shares during the quarter. The PNC Financial Services Group comprises about 10.7% of Exane Asset Management's investment portfolio, making the stock its 4th biggest holding. Exane Asset Management's holdings in The PNC Financial Services Group were worth $25,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PNC. Vanguard Group Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock valued at $6,673,217,000 after buying an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA raised its position in The PNC Financial Services Group by 26.1% in the first 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 in the last quarter. Ameriprise Financial Inc. lifted its holdings 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 valued at $844,967,000 after acquiring an additional 24,588 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 valued at $713,063,000 after acquiring an additional 186,249 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of The PNC Financial Services Group by 41.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock valued at $495,336,000 after purchasing an additional 830,440 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $203.30 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $80.06 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The company has a 50 day simple moving average of $198.37 and a 200-day simple moving average of $182.18. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The firm had revenue of $3.01 billion for 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 firm's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research 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 company also recently disclosed 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. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio is 46.51%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price objective for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. Oppenheimer decreased their target price on The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating on the stock in a report on Tuesday, September 23rd. Citigroup upped their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday, September 23rd. Finally, Bank of America lifted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $215.17.

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.

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