Deerfield Management Company L.P. Series C Acquires New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) (2025)

Deerfield Management Company L.P. Series C bought a new position in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,290 shares of the financial services provider's stock, valued at approximately $822,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in shares of The PNC Financial Services Group by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,802,981 shares of the financial services provider's stock worth $746,772,000 after purchasing an additional 18,397 shares during the last quarter. APG Asset Management N.V. boosted its stake in The PNC Financial Services Group by 203.2% during the second quarter. APG Asset Management N.V. now owns 47,452 shares of the financial services provider's stock worth $6,884,000 after buying an additional 31,800 shares during the last quarter. AQR Capital Management LLC grew its holdings in The PNC Financial Services Group by 14.2% in the 2nd quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider's stock valued at $6,983,000 after buying an additional 5,640 shares in the last quarter. AXA S.A. increased its stake in shares of The PNC Financial Services Group by 46.8% in the 2nd quarter. AXA S.A. now owns 12,125 shares of the financial services provider's stock worth $1,885,000 after acquiring an additional 3,865 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its stake in shares of The PNC Financial Services Group by 18.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 1,198 shares of the financial services provider's stock worth $186,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 0.1 %

Shares of NYSE PNC traded down $0.21 during trading on Friday, hitting $183.11. 925,650 shares of the company traded hands, compared to its average volume of 1,875,129. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $72.86 billion, a P/E ratio of 15.43, a P/E/G ratio of 2.03 and a beta of 1.14. The company has a 50-day moving average price of $177.77 and a 200-day moving average price of $163.79. The PNC Financial Services Group, Inc. has a 1 year low of $109.40 and a 1 year high of $187.78.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, topping analysts' consensus estimates of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the business posted $3.36 EPS. The company's quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that The PNC Financial Services Group, Inc. will post 13.14 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 15th were paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 3.50%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.55. The ex-dividend date of this dividend was Monday, July 15th. The PNC Financial Services Group's dividend payout ratio is 53.74%.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 2,404 shares of the business's stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now directly owns 564,637 shares of the company's stock, valued at $90,341,920. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO William S. Demchak sold 1,242 shares of the firm's stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $167.50, for a total value of $208,035.00. Following the transaction, the chief executive officer now directly owns 563,395 shares in the company, valued at approximately $94,368,662.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William S. Demchak sold 2,404 shares of the business's stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total transaction of $384,640.00. Following the sale, the chief executive officer now directly owns 564,637 shares of the company's stock, valued at approximately $90,341,920. The disclosure for this sale can be found here. Insiders sold a total of 25,223 shares of company stock valued at $4,453,360 in the last ninety days. Corporate insiders own 0.42% of the company's stock.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of analyst reports. Barclays upped their price objective on shares of The PNC Financial Services Group from $199.00 to $209.00 and gave the company an "overweight" rating in a report on Wednesday, July 17th. Morgan Stanley increased their price target on shares of The PNC Financial Services Group from $165.00 to $177.00 and gave the company an "underweight" rating in a research note on Tuesday, July 30th. UBS Group upped their price objective on The PNC Financial Services Group from $179.00 to $198.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Jefferies Financial Group increased their price objective on The PNC Financial Services Group from $162.00 to $164.00 and gave the stock a "hold" rating in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company lifted their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an "overweight" rating in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $176.90.

Read Our Latest Stock Report on PNC

The PNC Financial Services Group Profile

(Free Report)

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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