Diversify Wealth Management LLC Invests $676,000 in The PNC Financial Services Group, Inc $PNC

Diversify Wealth Management LLC acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,093 shares of the financial services provider’s stock, valued at approximately $676,000.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after buying an additional 984 shares during the period. Empowered Funds LLC lifted its holdings in shares of The PNC Financial Services Group by 2.1% during the first quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 170 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of The PNC Financial Services Group by 50.3% in the second quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 1,449 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of The PNC Financial Services Group by 1.5% in the second quarter. Treasurer of the State of North Carolina now owns 184,579 shares of the financial services provider’s stock valued at $34,409,000 after acquiring an additional 2,808 shares during the period. Finally, Diversify Advisory Services LLC acquired a new stake in shares of The PNC Financial Services Group in the second quarter worth $482,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Up 0.4%

PNC stock opened at $255.24 on Friday. The business has a fifty day moving average price of $232.45 and a 200 day moving average price of $223.26. The PNC Financial Services Group, Inc has a fifty-two week low of $176.88 and a fifty-two week high of $256.26. The stock has a market capitalization of $102.50 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 1.04 and a beta of 0.91. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.85 and a quick ratio of 0.82.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a net margin of 21.41% and a return on equity of 12.48%. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the firm posted $3.85 earnings per share. The company’s revenue was up 21.4% on a year-over-year basis. Analysts expect that The PNC Financial Services Group, Inc will post 18.88 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Monday, July 20th. The PNC Financial Services Group’s payout ratio is presently 39.51%.

Wall Street Analyst Weigh In

PNC has been the topic of several research reports. Argus boosted their price objective on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday. Stephens increased their target price on shares of The PNC Financial Services Group from $265.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group lifted their target price on The PNC Financial Services Group from $263.00 to $288.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings restated a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. upped their price target on The PNC Financial Services Group from $238.00 to $264.50 and gave the company an “overweight” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.97.

Insider Buying and Selling

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $228.73, for a total transaction of $411,714.00. Following the transaction, the executive vice president owned 3,107 shares in the company, valued at approximately $710,664.11. This trade represents a 36.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $238.14, for a total transaction of $357,210.00. Following the transaction, the executive vice president directly owned 5,059 shares in the company, valued at $1,204,750.26. The trade was a 22.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,300 shares of company stock valued at $10,694,574 over the last three months. Company insiders own 0.38% of the company’s stock.

More The PNC Financial Services Group News

Here are the key news stories impacting The PNC Financial Services Group this week:

• Positive Sentiment: Several firms raised their price targets on PNC after the bank reported better-than-expected Q2 earnings, revenue, and record revenue from stronger capital markets activity and loan growth. Analyst target raise coverage
• Positive Sentiment: Analysts at Wells Fargo, Barclays, Oppenheimer, Robert W. Baird, Argus, RBC, Stephens, and Truist all lifted targets, with several maintaining bullish ratings such as overweight, outperform, and buy, signaling confidence in PNC’s earnings outlook. Analyst target raise coverage
• Positive Sentiment: PNC’s Q2 report showed EPS of $4.85 and revenue of $6.66 billion, both above estimates, while management raised its dividend 18% and forecast 2026 loan growth of about 12.5% and net interest income growth of 15%-15.5%. Reuters article
• Neutral Sentiment: Some commentary noted that expenses are also expected to rise alongside revenue, which could temper margin expansion even as operating momentum remains strong. American Banker article
• Negative Sentiment: Despite the earnings beat, one market reaction item noted shares slipped after the report because higher costs and declining deposits raised some concerns about the sustainability of the growth story. Zacks article

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.