Erste Asset Management GmbH Sells 3,420 Shares of The PNC Financial Services Group, Inc $PNC

Erste Asset Management GmbH lowered its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 10.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 29,812 shares of the financial services provider’s stock after selling 3,420 shares during the quarter. Erste Asset Management GmbH’s holdings in The PNC Financial Services Group were worth $5,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position 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 purchasing an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 26.1% during the 1st 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 during the period. Northern Trust Corp increased its holdings in The PNC Financial Services Group by 14.9% during the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider’s stock worth $905,530,000 after acquiring an additional 608,375 shares during the period. Bank of New York Mellon Corp increased its holdings in The PNC Financial Services Group by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock worth $713,063,000 after acquiring an additional 186,249 shares during the period. Finally, Royal Bank of Canada increased its holdings in The PNC Financial Services Group by 5.3% during the 4th quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider’s stock worth $689,084,000 after acquiring an additional 179,760 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In other news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer owned 554,879 shares of the company’s stock, valued at approximately $94,190,710.25. This represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. 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. The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, July 2nd. Truist Financial upped their target price on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a “hold” rating in a report on Wednesday, July 9th. TD Cowen started 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 target price on the stock. Finally, Wolfe Research reissued a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, The PNC Financial Services Group has an average rating of “Moderate Buy” and an average target price of $214.17.

The PNC Financial Services Group Price Performance

Shares of NYSE:PNC opened at $195.0670 on Thursday. The company’s fifty day moving average price is $189.85 and its 200-day moving average price is $179.54. The firm has a market capitalization of $76.82 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.43 and a beta of 1.09. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. 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 PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $3.56 by $0.29. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts anticipate 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. Stockholders of record on Tuesday, July 15th were paid a $1.70 dividend. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. 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.