Hazlett Burt & Watson Inc. Raises Stock Holdings in The PNC Financial Services Group, Inc $PNC

Hazlett Burt & Watson Inc. raised its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 227.7% during the second quarter, Holdings Channel reports. The fund owned 17,891 shares of the financial services provider’s stock after buying an additional 12,432 shares during the period. The PNC Financial Services Group comprises about 1.4% of Hazlett Burt & Watson Inc.’s investment portfolio, making the stock its 9th biggest position. Hazlett Burt & Watson Inc.’s holdings in The PNC Financial Services Group were worth $3,332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of The PNC Financial Services Group by 32.2% in the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 984 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of The PNC Financial Services Group by 10.3% in the first quarter. GAMMA Investing LLC now owns 6,537 shares of the financial services provider’s stock worth $1,149,000 after purchasing an additional 608 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in shares of The PNC Financial Services Group by 29.7% in the first quarter. Simon Quick Advisors LLC now owns 1,843 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 422 shares during the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of The PNC Financial Services Group by 15.0% in the first quarter. NorthCrest Asset Manangement LLC now owns 4,883 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 638 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group in the first quarter worth approximately $35,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Price Performance

NYSE PNC opened at $183.72 on Monday. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The stock has a 50-day moving average of $198.64 and a 200 day moving average of $183.62. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $72.35 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.28 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts’ consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the previous year, the firm earned $3.39 EPS. The PNC Financial Services Group’s revenue 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. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The PNC Financial Services Group’s payout ratio is 46.51%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer cut their target price on shares of 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. Wolfe Research reiterated a “peer perform” rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Morgan Stanley lifted their price target on shares of The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Finally, Evercore ISI raised their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $218.21.

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.